TVS Motor reports 32% y-o-y growth in Q2 net profit at Rs 537 crore

31 Oct 2023 , 10:40 AM

TVS Motor Company recorded a standalone net profit of Rs 537 crore, up 32% from the previous quarter ended September 30, 2024, on October 30. In the previous fiscal year, the company achieved a net profit of Rs 407 crore.

Revenue from operations grew 13% to Rs 8,144.61 crore in the same period previous year, from Rs 7,219.18 crore.

The Chennai-based two-wheeler manufacturer’s operating Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) increased by 22% to Rs 900 crore in the second quarter of 2023-24, up from Rs 737 crore in the second quarter of 2022-23, while its EBITDA margin increased to 11% from 10.20%.

Furthermore, the company’s Profit Before Tax (PBT) increased by 32% to Rs 724 crore (including additional income of Rs. 37.5 crore towards fair valuation of current investments) in the second quarter of 2023-24, compared to Rs 549 crore in the same period previous year.

TVS’ entire two-wheeler and three-wheeler sales, including exports, increased by 5% to 10.74 lakh units in the quarter ended September 2023, up from 10.27 lakh units in the previous quarter. Its motorbike sales increased by 3%, reaching 4.93 lakh units in the quarter ending September 2023, up from 4.77 lakh units in the previous quarter.

At around 10.37 AM, TVS Motor Company was trading 1.13% lower at Rs 1,590.60 per piece, against the previous close of Rs 1,608 on NSE. The counter touched an intraday low of Rs 1,585.45.

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