TVS Motor Company, the two and three-wheeler manufacturer, reported growth in its June quarter net profit. The firm’s standalone net profit in the first quarter of this financial year rose 23.4% to Rs 577.32 crore from Rs 467.67 crore in the year-ago quarter.
Revenue from operations rose 16% in Q1 FY25, to Rs 8,375.59 crore.
The overall two-wheeler and three-wheeler sales including exports grew by 14% registering sales of 10.87 lakh units in the quarter ended June 2024, versus 9.53 lakh units registered in the quarter-ended June 2023.
The company’s operating profit or earnings before interest, tax, depreciation and amortization (EBITDA) in Q1FY25 rose 25.6% to Rs 960.1 crore from Rs 764 crore.
During the quarter ended June 2024, the company’s motorcycle sales grew by 11% to 5.14 lakh units as against 4.63 lakh units in the year-ago period. Scooter sales rose by 19% to 4.18 lakh units from 3.50 lakh units, year on year.