 "TVS Motor Q1 results: Net profit rises 42% to Rs 434 cr, revenue up 24%")
Chennai-based automobile major TVS Motor Company (TVS) has posted a 42 per cent rise in consolidated net profit during the first quarter of 2023-24 to Rs 434 crore, as compared to Rs 305 crore during the April to June period of 2022-23, driven by a rise in sales and revenue.
During the quarter under review, the company’s revenue from operations also increased by 24 per cent from Rs 7,316 crore in April to June quarter of 2022-23 to Rs 9,056 crore during the Q1 of FY24. During the quarter, Company registered the highest ever operating EBITDA of Rs.764 crore at 27 per cent growth, as against an EBITDA of Rs.599 crore during Q1 of last year. The company’s operating EBITDA margin is at 10.6 per cent as against 10 per cent during Q1 of last year.
The overall two-wheeler and three-wheeler sales including exports grew by 5 per cent registering sales of 9.53 lakh units in the quarter ended June 2023 as against 9.07 lakh units registered in the quarter ended June 2022.
Motorcycle sales grew by 7 per cent registering 4.63 lakh units in the quarter ended June 2023 as against 4.34 lakh units in the quarter ended June 2022. Scooter sales for the quarter ended June 2023 grew by 11 per cent at 3.50 lakh units as against 3.15 lakh units in the first quarter of 2022-23. Three-wheeler sales for the quarter under review is at 0.35 lakh units as against 0.46 lakh units during first quarter of 2022-23. Electric Scooter sales for the quarter ended June 2023 is at 39,000 units as against 9,000 units in the quarter ended June 2022.