TVS Motor Achieves Highest EBITDA Margin of 11% During Q2

TVS Motor Company’s operating revenue grew by 13% at Rs. 8,145 Crores for the quarter ended September 2023 as against Rs. 7,219 Crores reported in the quarter ended September 2022.

The Company’s Operating EBITDA grew by 22% at Rs. 900 Crores for the second quarter of 2023-24 as against EBITDA of Rs. 737 Crores in second quarter of 2022-23. The Company’s EBITDA margin for the quarter is at 11.0% as against EBITDA margin of 10.2% reported in the second quarter of 2022-23.

The Company’s Profit Before Tax grew by 32% at Rs. 724 Crores (includes other income of Rs. 37.5 Crores towards fair valuation of the current investments) for the second quarter of 2023-24 as against PBT of Rs. 549 Crores in second quarter of 2022-23.

Sales

The overall two-wheeler and three-wheeler sales including exports grew by 5% registering 10.74 Lakh units in the quarter ended September 2023 as against 10.27 Lakh units registered in the quarter ended September 2022. Motorcycle sales grew by 3% registering 4.93 Lakh units in the quarter ended September 2023 as against 4.77 Lakh units in quarter ended September 2022. Scooter sales for the quarter ended September 2023 grew by 10% registering 4.20 Lakh units as against the sales of 3.83 Lakh units in the second quarter of 2022-23. The Company recorded two-wheeler exports of 2.39 Lakh units in the quarter ended September 2023 as against 2.52 Lakh units in the quarter ended September 2022. Total three-wheeler sales for the quarter under review was at 0.43 Lakh units as against 0.51 Lakh units during second quarter of 2022-23.

EV Sales

The Company’s cumulative TVS iQube sales surpassed 2 lakh units. During the quarter under review, the Company sold 0.58 Lakh units as against 0.16 Lakh units during quarter ended September 2022.

Half-year results

The total two-wheeler sales of the Company for the half-year ended September 2023 grew by 6% registering 19.50 Lakh units as against 18.38 Lakh units recorded in the half-year ended September 2022. The total three-wheeler sales for the half-year ended September 2023 is at 0.78 Lakh units as against 0.97 Lakh units registered in the half-year ended September 2022. The total export of two and three-wheelers for the half-year ended September 2023 is at 5.04 Lakh units as against 6.36 Lakh units in the half-year ended September 2022.

Total revenue in the half-year ended September 2023 is at Rs. 15,362 Crores against Rs. 13,228 Crores in the half-year ended September 2022. PBT for the half-year ended September 2023 grew by 36% at Rs. 1,334 Crores (includes other income of Rs. 93.1 Crores towards profit on sale of investments and fair valuation of investments) as against Rs. 981 Crores in the half-year ended September 2022. During the half-year ended September 2023, the Company reported Profit After Tax of Rs. 1,004 Crores as against Rs. 728 Crores in the half-year ended September 2022.

New Product Launches

In the current quarter, TVS Motor Company introduced two new products: TVS X, the premium electric crossover and TVS Apache RTR 310, the ‘New Freestyle Performance’ motorcycle. The company also announced the launch of India’s first-ever electric two-wheeler racing championship, TVS Racing Electric One Make Championship.

Disclaimer: The above press release has been provided by NewsVoir. CXO Digital Pulse holds no responsibility for its content in any manner.
- Advertisement -

Disclaimer: The views expressed in this feature article are of the author. This is not meant to be an advisory to purchase or invest in products, services or solutions of a particular type or, those promoted and sold by a particular company, their legal subsidiary in India or their channel partners. No warranty or any other liability is either expressed or implied.
Reproduction or Copying in part or whole is not permitted unless approved by author.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

error: Content is protected !!

Sign Up for CXO Digital Pulse Newsletters

Sign Up for CXO Digital Pulse Newsletters to Download the Research Report

Sign Up for CXO Digital Pulse Newsletters to Download the Coffee Table Book

Sign Up for CXO Digital Pulse Newsletters to Download the Vision 2023 Research Report

Download 8 Key Insights for Manufacturing for 2023 Report

Sign Up for CISO Handbook 2023

Download India’s Cybersecurity Outlook 2023 Report

Unlock Exclusive Insights: Access the article

Download CIO VISION 2024 Report

Share your details to download the report

Share your details to download the CISO Handbook 2024