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TVS Motor Company posts Q4 net profit of Rs 274.5 crore, misses estimates

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TVS Motor Company posts Q4 net profit of Rs 274.5 crore, misses estimates

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TVS Motor Company reported a 5.1 percent year-on-year (YoY) decline in net profit at Rs 274.5 crore for the fourth quarter ended March 31, 2022.

TVS Motor Company posts Q4 net profit of Rs 274.5 crore, misses estimates
Two and three-wheeler maker TVS Motor Company on Thursday reported a 5.1 percent year-on-year (YoY) decline in net profit at Rs 274.5 crore for the fourth quarter ended March 31, 2022.
In the corresponding quarter last year, the company posted a net profit of Rs 289.2 crore. CNBC-TV18 Polls had predicted a profit of Rs 289 crore for the quarter under review.
TVS Motor Company's revenue from operations in Q4 grew by 4 percent at Rs 5,530 crore against Rs 5,322 crore reported in the fourth quarter of 2020-21. Operating EBITDA for the fourth quarter increased to 10.1 percent.
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The company reported an operating EBITDA of Rs 557 crore for the fourth quarter recording a growth of 4 percent as against Rs 536 crore in the fourth quarter of 2020-21. The company achieved Profit Before Tax (PBT) of Rs 373 crore in the fourth quarter of 2021-22 as against Rs 387 crore in the fourth quarter of 2020-21.
During the financial year 2021-22, revenue from operations grew by 24 percent at Rs 20,791 crore as against Rs 16,751 crore recorded in 2020-21. Operating EBITDA for the year is higher at 9.4 percent compared to 8.5 percent in the previous year.
The PBT before exceptional items for the year ended March 2022 grew by 50 percent to Rs 1,243 crore as compared to Rs 826 crore reported during the previous year.
During the year, the company incurred Rs 30 crore towards COVID-19-related expenses, and the same is shown as an exceptional item. PAT for the year ended March 2022 was at Rs 894 crore as compared to Rs 612 crore reported during the year ended March 2021.
International Sales
On the international business front, two-wheeler sales clocked 1.09 million units in FY 2021-22. The company has achieved this significant milestone for the first time in a financial year.
Q4 Sales
The overall two-wheeler and three-wheeler sales including exports is at 8.56 lakh units in the quarter ended March 2022 as against 9.27 lakh units registered in the quarter ended March 2021. Motorcycle sales registered a growth of 2 percent at 4.42 lakh units in the quarter ended March 2022 as against 4.31 lakh units in the quarter of March 2021.
Scooter sales for the quarter ended March 2022 registered 2.62 lakh units against the sales of 2.98 lakh units in the fourth quarter of 2020-2021. Three-wheeler sales for the quarter under review is 0.42 lakh units as against 0.41 lakh units in the fourth quarter of 2020-21.
Sales FY21-22
During the year ended March 2022, the overall two and three-wheeler sales of TVS Motor Company, including international business grew by 8 percent to 33.10 lakh units as against 30.52 lakh units in the year 2020-21. Motorcycle sales during the fiscal year grew by 29 percent to 17.32 lakh units as against 13.41 lakh units in the year ended March 2021.
Scooter sales registered 9.23 lakh units in the year ended March 2022 as against 9.61 lakh units in the year ended March 2021. Three-wheeler sales grew by 39 percent at 1.72 lakh units in the year ended March 2022 as against 1.24 lakh units in the year ended March 2021.
The results came after the close of the market hours. Shares of TVS Motor Company ended at Rs 628.60, up by Rs 1.20, or 0.19 percent on the BSE.
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