TVS Motor Company’s revenue from operations Q1FY24 grew by 20% to INR 7,218 crore against INR 6,009 crore in the same period last year. The company posted its highest-ever operating EBITDA of INR 764 crore, growing 27% against the same quarter in FY23. The operating EBITDA has improved by 60bps at 10.6% against 10.0% in the quarter ended June 2022.
Besides, the company posted its highest-ever Profit Before Tax (PBT) of INR 610 crore recording a growth of 41% in Q1FY24 against INR 432 crore in the same period last year. The PBT for the quarter includes INR 55.6 crore towards profit on the sale of investments. During the current quarter, its Profit After Tax (PAT) grew by 46% to INR 468 crore against INR 321 crore in Q1FY23.
The overall two-wheeler and three-wheeler sales, including exports, grew by 5% to 9.53 lakh units in the quarter ended June 2023 as against 9.07 lakh units registered in the same period last year.
TVS motorcycle sales grew by 7% to 4.63 (4.34 lakh units) lakh units, and scooter sales grew by 11% to 3.50 lakh units (3.15 lakh units). Three-wheeler sales for the quarter under review are at 0.35 lakh units against 0.46 lakh units during the first quarter of 2022-23.
Electric scooter sales during the quarter were at 39,000 units against 9,000 units during the same period last year.