TVS Motor Company on Thursday said its consolidated net profit declined by 14 per cent to Rs 275 crore for the fourth quarter ended March 2022, due to low sales.
The company had posted a consolidated net profit of Rs 319 crore in the March quarter of the 2020-21 fiscal.
Revenue from operations, however, rose to Rs 6,585 crore during the period under review, as against Rs 6,132 crore a year ago, TVS Motor Company said in a regulatory filing.
The company also said its overall two-wheeler and three-wheeler sales, including exports in the fourth quarter stood at 8.56 lakh units, as compared to 9.27 lakh units registered in the quarter ended March 2021.
For the year ended March 31, 2022, the company posted a consolidated net profit of Rs 731 crore, up 20 per cent. It stood at Rs 607 crore in the year-ago period.
Revenue from operations rose to Rs 24,355 crore last fiscal as against Rs 19,421 crore in FY21.
The company's total sales during the year rose by 8 per cent to 33.10 lakh units. It was at 30.52 lakh units in 2020-21.
The company said its board has declared an interim dividend of Rs 3.75 per share (375 per cent) for the 2021-22 period, absorbing a sum of Rs 178 crore.
On Thursday, shares of the company ended 0.45 per cent up at Rs 630.20 apiece on the BSE.