 "TVS Motor")
Two-wheeler giant TVS Motor Company surged as much as 5.73 per cent to hit an intraday high of Rs 2,121.30 apiece on Thursday.
The uptick came on the back of strong March quarter performance by the Chennai-based motorcycle manufacturer, which met street expectations.
TVS Motor’s profit zoomed 18.3 per cent on a year-on-year (Y-o-Y) basis to Rs 485.4 crore in March quarter of financial year 2024 (Q4FY24), from Rs 410 crore in the same quarter a year ago (Q4FY23).
The motorcycle maker’s topline jumped about 24 per cent to Rs 8,169 crore in Q4FY24, as against Rs 6,604 crore in Q4FY23.
On the operations front, TVS Motor posted its highest ever earnings before interest taxes, depreciation and amortisation (Ebitda) at Rs 926 crore in the March quarter of FY24, up 36.2 per cent, from Rs 679.8 crore in the March quarter of FY23.
The company’s margin, meanwhile, expanded 100 basis points (bps) to 11.3 per cent in Q4FY24, from 10.3 per cent in Q4FY23.
FY24 performance
During FY24, revenue from operations zoomed 20 per cent to Rs 31,776 crore, as against Rs 26,378 crore recorded in FY23.
The profit before tax (PBT) for FY24 jumped 39 per cent to Rs 2,781 crore, as compared to Rs 2,003 crore during the same period previous fiscal.
Q4FY24 sales
The overall two-wheeler and three-wheeler sales including exports soared 22 per cent at 10.63 lakh units in the quarter ended March 2024 as against 8.68 lakh units registered in the quarter ended March 2023.
Motorcycle sales during the same period grew 32 per cent, registering 5.11 lakh units as against 3.89 lakh units in quarter March 2023. Meanwhile, scooter sales for the quarter surged 16 per cent, registering 3.96 lakh units as against 3.40 lakh units in the fourth quarter of FY23.
Electric vehicles (EVs) sales rose 15 per cent to 0.49 lakh units in Q4FY24, from 0.43 lakh units in Q4FY23. Additionally, TVS Motor’s three-wheeler sales increased 4 per cent on a Y-o-Y basis to 0.30 lakh units, as against 0.29 lakh units in the same period last year.
At 12:42 PM, TVS Motor shares were trading 3.50 per cent higher at Rs 2,076.40 apiece, By comparison S&P BSE Sensex was trading 0.71 per cent lower at 72,945.14 levels.
