Chennai-headquartered two- and three-wheeler major, TVS Motor Company  has announced its financial results for the first quarter of FY2023. For the period, it reported revenue of Rs 6,009 crore (+52.75%) as against Rs 3,934 crore for the same period last year. It is important to note that the first quarter numbers are not comparable YoY because of the lockdowns in 2021.

For Q1 FY2023, the EBITDA was Rs 599 crore as against Rs 274 crore during the same period last year. The EBITDA margin came at 10% as against 7% reported in first quarter of FY2022. The profit after tax (PAT) came at Rs 321 crore as against Rs 53 crore YoY.

In terms of wholesales, the company in the first quarter reported wholesales (two- and three-wheeler combined) including exports of 9.07 lakh units as against 6.58 lakh units a year ago. TVS Motor Co motorcycle sales came at 4.34 lakh units as against 4.05 lakh units last year; scooter sales at 3.06 lakh units as against the sales of 1.38 lakh units.

The OEM recorded its highest two-wheeler exports in this quarter shipping 2.96 lakh units as against 2.90 lakh last year.  Three-wheeler sales for the quarter under review is 46,000 units as against 39,000 units during first quarter of 2021-22. Electric Scooter sales registered 9,000 units in the Q1 FY2023, as against 1,000 units for the same period last year.

During the quarter, the company launched the updated TVS iQube electric scooter in three variants with best-in-class on-road range of 140km on a single charge. It comes with features such as 7-inch TFT touchscreen, infinity theme personalisation, voice assist and TVS iQube Alexa skillset, intuitive music player control, OTA updates, fast charging with a plug-and-play carry along charger, vehicle health and safety notifications, Bluetooth & Cloud Connectivity options and a 32-litre storage space.

 The company also launched, TVS Ntorq XT with first-in-segment features like hybrid TFT console and TVS SmartXonnect, which has more than 60 features including ‘SmartXtalk’, ‘SmartXtrack’. The scooter also features ‘TVS IntelliGO’ technology.

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