Hot Pursuit     24-Jul-23
TVS Motor Q1 PAT jumps 46% YoY to Rs 468 cr
The 2-wheeler maker's standalone net profit surged 45.9% to Rs 467.67 crore on 20.12% rise in revenue from operations to Rs 7,217.91 crore in Q1 FY24 over Q1 FY23.

Profit before tax (PBT) climbed 41.27% year on year to Rs 610.36 crore in the quarter ended 30 June 2023. PBT for the quarter includes Rs 55.6 crore towards profit on sale of investments.

The company posted its highest ever operating EBITDA of Rs 764 crore in Q1 FY24, registering a growth of 27% as against Rs 599 crore in Q1 FY23. Operating EBITDA margin improved by 60bps at 10.6% in Q1 FY24 as compared to 10% recorded in the corresponding quarter last year.

The overall two-wheeler and three-wheeler sales including exports grew by 5% registering sales of 9.53 lakh units in the quarter ended June 2023 as against 9.07 lakh units registered in the quarter ended June 2022.

Motorcycle sales grew by 7% registering 4.63 lakh units in the quarter ended 30 June 2023 as against 4.34 lakh units in Q1 FY23. Scooter sales for the quarter increased by 11% to 3.50 lakh units from 3.15 lakh units reported in Q1 FY23.

Three-wheeler sales for the quarter under review stood at 0.35 lakh units, down 23.91% as against 0.46 lakh units posted in Q1 FY23.

Electric Scooter sales for the quarter ended June 2023 was at 39,000 units as against 9,000 units in the quarter ended June 2022. The booking for TVS iQube continues to be healthy, said the company

TVS Motor Company is a reputed two and three-wheeler manufacturer globally. It has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. TVS Motor's group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Its subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland.

Shares of TVS Motor Company skid 2.25% to Rs 1,312.50 on the BSE.

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  TVS Motor Company
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