TVS Motor Company’s revenue from operations in the quarter ended June 2023 grew by 20% to INR 7,218 crore as against INR 6,009 crores in the quarter ended June 2022.
The company posted its highest-ever operating EBITDA of INR 764 crore with a growth of 27% for the first quarter of 2023-24 as against an EBITDA of INR 599 crore in the first quarter of 2022-23. The company’s operating EBITDA improved by 60bps at 10.6% as against 10.0% in the quarter ended June 2022.
The company posted its highest-ever profit before tax (PBT) of INR 610 crore recording a growth of 41% for the first quarter of 2023-24 as against INR 432 crore in the first quarter of 2022-23. PBT for the quarter includes INR 55.6 crore towards profit on the sale of investments. During the current quarter, the company’s profit after tax (PAT) grew by 46% to INR 468 crore as against INR 321 crore during the first quarter of 2022-23.
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 June 2023 as against 4.34 lakh units in the quarter ended June 2022. Scooter sales for the quarter ended June 2023 grew by 11% at 3.50 lakh units as against 3.15 lakh units in the first quarter of 2022-23. Three-wheeler sales for the quarter under review were at 0.35 lakh units as against 0.46 lakh units during first quarter of 2022-23.
Electric scooter sales for the quarter ended June 2023 were at 39,000 units as against 9,000 units in the quarter ended June 2022. The booking for TVS iQube continues to be healthy.
