TVS Motor Q3 Net Profit Surges 68% to Rs 593.35 Crore, Revenue Rises 26% to Rs 8,245 Crore

25 Jan 2024 , 11:21 AM

TVS Motor reported a 68% YoY increase in standalone net profit for Q3 FY24, reaching Rs 593.35 crore compared to Rs 352.75 crore in the same period last year.

The company’s standalone net revenue rose by 26% YoY to Rs 8,245 crore during the quarter, up from Rs 6,551 crore in the year-ago period.

TVS Motor’s operating EBITDA showed a significant 40% YoY increase, reaching Rs 924 crores in Q3 FY24, compared to Rs 659 crore in the corresponding period last year. The operating EBITDA margin for the December quarter was 11.2%.

Operating revenue also increased by 26% YoY, totaling Rs 8,245 crores in Q3 FY24, compared to Rs 6,545 crores reported in Q3 FY23.

The earnings per share (EPS) for the quarter stood at Rs 12.49, reflecting a substantial increase from the previous quarter’s value of Rs 11.29.

During the December quarter, TVS Motor sold a total of 10.63 lakh units of two-wheelers, showing growth from 8.36 lakh units in the same period of the previous year.

The company experienced growth in two-wheeler exports, reaching 2.16 lakh units compared to 2.07 lakh units in December 2022.

Three-wheeler sales saw a nominal decline, totaling 0.38 lakh units in Q3 FY24, down from 0.43 lakh units in Q3 FY23.

Electric vehicle sales increased to 0.48 lakh units in Q3 FY24, up from 0.29 lakh units in the quarter ended December 2022.

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