 "TVS Motor company")
TVS Motor on Monday reported a 42.2 per cent rise in its net profit in the quarter that ended on June 30 to Rs 434.3 crore from Rs 305.3 crore in the same quarter last year. Its revenue from operations rose to Rs 9,055.5 crore from Rs 7,315.7 crore last year.
The company's revenue from operations in the quarter grew by 20 per cent at Rs 7,218 crore as against Rs 6,009 crore in the quarter ended June 2022. The company posted its highest-ever operating earnings before interest, taxes, depreciation, and amortisation (Ebitda) of Rs 764 crore with a growth of 27 per cent for the first quarter of FY24 as against Ebitda of Rs 599 crore in the first quarter of FY23.
The overall two-wheeler and three-wheeler sales including exports grew by five per cent registering sales of 953,000 units in the quarter ended June 2023 as against 907,000 units registered in the quarter ended June 2022.
Motorcycle sales grew by seven per cent registering 463,000 units in the quarter ended June 2023 as against 434,000 units in the quarter ended June 2022.
Scooter sales for the quarter ended June 2023 grew by 11 per cent at 350,000 units as against 315,000 units in the first quarter of 2022-23.
Three-wheeler sales for the quarter under review are at 35,000 units as against 46,000 units during the first quarter of 2022-23.
Electric Scooter sales for the quarter ended June 2023 are at 39,000 units as against 9,000 units in the quarter ended June 2022. "The booking for TVS iQube continues to be healthy," it said.
