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New Delhi: TVS Motors’ net profit fell 14 per cent to Rs 275 crore in the fourth quarter. The company had posted a net profit of Rs 319 crore in the March quarter of the current fiscal, 2020-21. The main reason for the decline in profits in the current year is the decline in sales.
During the quarter under review, the company’s revenue rose to Rs 6,585 crore from Rs 6,132 crore.
Sales of two- and three-wheelers (including exports) were 8.56 lakh in the fourth quarter. Vehicle sales, meanwhile, were 9.27 lakh in the same quarter of the previous fiscal, 2020-21.
For the 2021-22 financial year ended March 31, 2022, profit rose 20 per cent to Rs 731 crore from Rs 607 crore and revenue rose to Rs 24,355 crore from Rs 19,421 crore. Vehicle sales rose 8 per cent to Rs 33.10 lakh.
The Board of Directors has decided to pay an interim dividend of Rs.3.75 (375%) per share for the last 2021-22 financial year. The allocation for this will be Rs 178 crore, according to TVS Moto.
Sudhasan Venu appointed as Managing Director: Sudhasan Venu has been appointed as the Managing Director of TVS Motors. His appointment will take effect immediately, TVS Moto chairman Ralph Dyto Sept said in a statement.
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