TVS Motor Company has reported a profit after tax of ₹134 crore for the fourth quarter ended March 31, 2019 when compared with ₹166 crore in a year-ago period.

“PAT for corresponding quarter of last year had a benefit or lower tax rate of 13.8 per cent and hence not comparable,” according to a company official.

EBITDA reported an increase of four per cent at ₹308 crore as against ₹295 crore.

Total revenue (excluding excise duty/GST) grew nine per cent to ₹4,388 crore from ₹4,017 crore in January-March 2018 period.

For the year ended March 31, 2019, the profit after tax grew marginally to ₹670 crore from ₹663 crore in 2017-18.

Operating PAT for the year ended March 2018 prior to consideration of fair valuation gains and one-time GST discount (net of tax) was ₹607 crore. The growth in operating PAT for the year ended March 2019 is 10.5 per cent, according to a company statement.

Profit before tax stood at ₹961 crore as against ₹879 crore, which included notional fair valuation gain of ₹68 crore and one time GST discount of ₹16.5 crore.

Operating EBITDA increased to ₹1,433 crore in 2018-19 from ₹1,175 crore in 2017-18, a growth of 22 per cent.

Total revenue (excluding excise duty/GST) grew 19.3 per cent to ₹18217.5 crore when compared with ₹15274 crore in the previous fiscal.

The board on Tuesday approved the appointment of R Gopalan, former Economic Affairs Secretary, as an additional director (independent director) of the company effective April 30.