The company said it reported its highest ever revenue, EBITDA and profit for the quarter. The two-wheeler maker posted a 11.15% jump in EBITDA to Rs 568 crore in Q3 FY22 from Rs 511 crore recorded during the third quarter of last year. The rise in EBITDA was despite various challenges in terms of increase in commodity costs and shortage in semiconductors.

EBITDA margin for Q3 FY22 stood at 10% as against 9.5% during the corresponding period last year.

The company registered a 12.2% decline in total two-wheeler sales to 8.35 lakh units in the current quarter as against 9.52 lakh units in the quarter ended December 2020. Two-wheeler export sales grew by 12% compared to Q3 FY21. Motorcycles sales grew by 5% to 4.46 lakh units in Q3 FY22 as against sales of 4.26 lakh units posted in the same period last year. Scooters registered sales of 2.56 lakh units as against 3.11 lakh units in the quarter ended December 2020. Total three-wheelers grew by 17% registering sales of 0.44 lakh units in the quarter ended December 2021 as against sales of 0.38 lakh units in the quarter ended December 2020.

TVS Motor Company, part of the TVS Group, is a two and three-wheeler manufacturer.