 "TVS Motor company")
Chennai-based two-wheeler manufacturer TVS Motor Company, on Wednesday, anounced an over 15% jump in consolidated net profit to Rs 387 crore year-on-year (Y-o-Y) in the January-March quarter of the financial year 2023-24 (Q4FY24). The company had reported a net profit of Rs 336 crore in the January-March period of the previous financial year (Q4FY23).
The standalone net profit of the company increased by 18 per cent to Rs 485 crore in Q4FY24.
The company said in its stock exchange filing that the increase in profit was aided by robust volumes, healthy product mix, better pricing and benign commodity costs.
The standalone net profit of the company increased by 18 per cent to Rs 485 crore in Q4FY24.
The company said in its stock exchange filing that the increase in profit was aided by robust volumes, healthy product mix, better pricing and benign commodity costs.
The company’s revenue from operations jumped almost 25% to Rs 10,042 crore in Q4FY24 compared with Rs 8,031 crore in the fourth quarter of FY23.
The company’s operating earnings before interest, taxes, depreciation, and amortisation (Ebitda) grew by 36 per cent at Rs 926 crore compared to Rs 680 crore during Q4 of last year.
Operating Ebitda margin improved by 100 basis points (bps) at 11.3 per cent as against 10.3 per cent during Q4 of last year.
For the full FY24, the company posted a consolidated net profit of Rs 1,686 crore as against Rs 1,329 crore a year ago. Revenue from operations rose to Rs 39,145 crore in FY24 over Rs 31,974 crore in the 2022-23 fiscal. The company said in the statement that it recorded its highest-ever revenue and profit in FY24.
For the full FY24, the company posted a consolidated net profit of Rs 1,686 crore as against Rs 1,329 crore a year ago. Revenue from operations rose to Rs 39,145 crore in FY24 over Rs 31,974 crore in the 2022-23 fiscal. The company said in the statement that it recorded its highest-ever revenue and profit in FY24.
According to the statement, the company has achieved record sales of over 4 million units in the financial year. During the year
ended March 2024, the overall two and and three-wheeler sales of TVS Motor Company, grew by 14 per cent at 4,191,000 units as against 3,682,000 units in the year 2022-23. Motorcycles sales during the year grew by 15 per cent recording 1,990,000 units as against 1,733,000 unit in the year ended March 2023. Scooter sales during the fiscal year grew by 18 per cent at 1,570, 000 units as against 1,334,000 units in the year ended March 2023. Electric vehicles grew by 101 per cent, registering sales of 194, 000 units in the year 2023-24 as against 97,000 units during 2022-23.
Three-wheeler sales for the year is at 146,000 units as against 169,000 units in the year ended March 2023, the company has reported.
Three-wheeler sales for the year is at 146,000 units as against 169,000 units in the year ended March 2023, the company has reported.
On May 8, at Rs 2,022.45 apiece TVS shares closed trading 2 per cent higher that the previous day's closing.
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