TVS Motor Company Ltd, on May 5, reported a 5 percent year-on-year decline in standalone profit after tax (PAT) at Rs 275 crore as compared to a profit of Rs 289 crore achieved during the corresponding quarter of previous financial year.

On a sequential basis as well, the profit has declined 5 percent from Rs 288 crore recorded in the previous quarter.

Revenues for the Chennai-based automobile company registered a YoY growth of 4 percent to Rs 5,530 crore as compared to Rs 5,322 crore registered during the same period a year ago. Sequentially, revenues witnessed a decline of 3 percent from Rs 5,706 crore recorded during the previous quarter, said TVS Motor.

However, for FY22 , standalone PAT for the company surged 46 percent on year to Rs 894 crore as compared to Rs 612 crore achieved during FY21.

The revenues for FY22 jumped 24 percent on year to Rs 20,791 crore, from Rs 16,751 crore during FY21.

Operating EBITDA (earnings before interest, tax, depreciation and amortization) for the quarter at Rs 557 crore was higher by 4 percent compared to Rs 536 crore during the same period last year. EBITDA margins for the quarter stood at 10.1 percent while the EBITDA margins for the full year improved 90 bps on year to 9.4 percent.

This was the highest-ever turnover and profit achieved during any financial year as the company achieved one million two-wheeler sales in the exports market.

This highest turnover and PBT of the company in a financial year was achieved under very challenging condition of COVID-19 wave 2 & 3, semiconductor shortage, container availability constraints and steep increases in commodity cost, the management said in its earnings release.

During FY22, the overall two and three-wheeler sales of the company, including exports business grew 8 percent to 33.10 Lakh units as against 30.52 Lakh units sold during FY21.

Motorcycle sales during the fiscal jumped 29 percent to 17.32 lakh units as against 13.41 lakh units for FY21. Scooter sales, however, were lower at 9.23 lakh units during the current financial year as compared to 9.61 lakh units sold in FY21.

Three-wheeler sales surged 39 percent during the year to 1.72 lakh units compared with 1.24 lakh units in FY21. The Company’s total sales in international markets recorded a growth of 43 percent, increasing from 8.79 lakh units last year to 12.53 lakh units in the year ended March 2022.

The company has declared an interim dividend of Rs 3.75 per share (375%) for the year 2021-22 involving a total outlay of Rs 178 Crores.