TVS Motor Q3 net profit up 59% to Rs 479 cr amid rise in two-wheeler sales

Chennai-based automobile major TVS Motor Company (TVS) has posted a 59 per cent rise in net profit for the third quarter of the financial year to Rs 478.75 crore, as compared to Rs 300.89 crore during the October to December quarter of 2022-23, owing to a rise in two-wheeler sales.

During the quarter under review, the company’s revenue from operations increased by 25 per cent to Rs 10,113.94 crore, while it was seen at Rs 8,066.13 crore during the third quarter of 2022-23.

The Company’s Operating Ebitda grew by 40 per cent at Rs 924 crore for the third quarter of 2023-24 as against an Ebitda of Rs 659 crore in the third quarter of 2022-23. The Company’s Operating Ebitda margin for the quarter is the highest at 11.2 per cent as against an Operating Ebitda margin of 10.1 per cent reported in the third quarter of 2022-23.

The Company reported total two-wheeler sales at 10.63 lakh units in the third quarter as against 8.36 lakh units in the quarter ended December 2022. Two-wheeler exports registered 2.16 lakh units as against 2.07 lakh units in December 2022. Total three-wheelers registered sales of 38,000 units in the quarter ended December 2023 as against 43,000 units in the quarter ended December 2022. Electric vehicles registered sales of 48,000 units in the quarter ended December 2023 as against 29,000 units during the quarter ended December 2022. The company on Wednesday said that it is going to come up with more products in the EV segment.