TVS Motor Q1 Results: PAT increases 46% year over year to Rs 468 crore while revenue increases 20%

25 Jul 2023 , 11:54 AM

On Monday, TVS Motor announced a 46% increase in its standalone net profit after tax for the three months ended June 2023, coming in at Rs 468 crore. In the same period a year ago, it was Rs 321 crore.

Operational revenue increased 20% year over year (YoY) to Rs 7,218 crore during the reporting quarter.

In the first quarter, the company reported its highest-ever operational EBITDA at Rs 764 crore, a 27% increase. In the same quarter the year before, it was Rs 599 crore.

The EBITDA margin increased by 60 basis points to 10.6% from 10% in the same quarter last year.

Additionally, the business recorded a record profit before tax (PBT) for the first quarter of Rs 610 crore, a 41% increase. Profit on the sale of investments, which is included in PBT for the quarter, is Rs. 55.6 crore.

In comparison to the same quarter last year, total expenses for the quarter increased 19% YoY to Rs 6,665 crore for the month of June.

Sales of two- and three-wheelers as a whole, including exports, increased by 5% to 9.53 lakh units in the quarter that ended in June from 9.07 lakh units in the same period the previous year.

In the first quarter, sales of motorcycles jumped by 7% to 4.63 lakh units, while those of scooters increased by 11% to 3.50 lakh units.

35,000 three-wheelers were sold by the corporation during the quarter, compared to 46,000 during the same period last year.

39,000 electric scooters were sold during the reporting period, up from a pitiful 9,000 for the quarter that concluded in June 2022. The business reported that TVS iQube reservations are still steady.

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