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TVS Motor Q2 net up 59% to Rs 373 cr amid slowdown, inflation roadblocks



Chennai-based two-wheeler main has posted a 59 per cent bounce in consolidated internet revenue for the second quarter of 2022-23 to Rs 373.4 crore, from Rs 234.37 crore throughout the identical quarter of FY22.


The corporate’s income from operations rose by 32 per cent throughout the quarter below assessment to Rs 8,560.76 crore, from Rs 6,483.42 crore a 12 months in the past. This was delivered regardless of challenges within the worldwide markets, attributable to the financial slowdown and better inflation in just a few key markets, the mentioned in a press release.


Although premium gross sales improved over the primary quarter, the complete demand couldn’t be met as a result of continued restricted availability of semiconductors throughout the second quarter. The general two-wheeler and three-wheeler gross sales, together with exports, grew by 12 per cent to 1.027 million models throughout the quarter below assessment, as towards 917,000 models within the quarter ended September 2021.


gross sales grew 9 per cent to 477,000 models within the September 2022 quarter, from 439,000 models a 12 months in the past. Scooter gross sales grew by 44 per cent to 383,000 models, from 266,000 models a 12 months in the past.


The exported 252,000 two-wheelers throughout the quarter below assessment, as towards 270,000 models a 12 months in the past. Three-wheeler gross sales grew by 7 per cent, at 51,000 models (47,000 models). Scooter gross sales, together with these of electrical scooters stood at 15,645 models throughout the quarter (1,955 models a 12 months in the past).


Increased investments have been made in all key manufacturers, with higher availability of automobiles and launch of TVS Ronin and new TVS iQube Electrical. As a part of the EV technique, specialised assets have been added within the areas of software program, electronics and digital and analytics to additional increase the group.


Then again, throughout the half-year ended September 2022 Firm reported a two-fold rise in revenue after tax to Rs 670.15 crore, from Rs 219.65 crore within the ame interval of FY22. In the course of the interval below assessment, the corporate’s income from operations rose 42 per cent to Rs 15,876.46 crore, from Rs 11,172.76 crore a 12 months in the past.



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