Chennai: Two- and three-wheeler major TVS Motor Company Ltd closed the third quarter of FY24 with a higher net profit of Rs 593.35 crore.
In a regulatory filing on Wednesday, TVS Motor said for the quarter ended December 31, 2023, it had earned an operational revenue of Rs 8,245.01 crore (against Q3FY23’s Rs 6,545.4 crore) and a net profit of Rs 593.35 crore (Rs 352.75 crore).
During the period under review, the company had sold 11,00,843 units up from 8,79,423 units sold during the quarter ended December 31, 2022.
TVS Motor, in the last quarter, invested Rs.300.51 crore in its overseas subsidiary, TVS Motor (Singapore) Pte Ltd, Singapore.
During the quarter ended December 31, 2023, the company received a sum of Rs. 310 crore from Sundaram Auto Components Ltd, a wholly-owned subsidiary of the company towards the reduction of its capital pursuant to the order of National Company Law Tribunal, Chennai and thereby, a profit of Rs 82.27 crore has been recognised as part of other income.
–IANS
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