TVS Motor Company on Wednesday reported a 52% year-on-year increase in standalone net profit to Rs 1,377 crore for the second quarter of FY27, compared with Rs 904 crore in the corresponding period last year, supported by record vehicle sales and strong revenue growth across its businesses.
The company’s revenue from operations increased 44% to an all-time quarterly high of Rs 17,103 crore during July-September 2026, from Rs 11,905 crore a year earlier, according to a regulatory filing.
Operating earnings before interest, tax, depreciation and amortisation (EBITDA) rose 47% to Rs 2,219 crore from Rs 1,507 crore in Q2 FY26. EBITDA margin improved by 30 basis points to 13%, compared with 12.7% in the year-ago quarter.
In Q2 FY27, TVS Motor recorded its highest ever quarterly sales, with total two-wheeler and three-wheeler volumes increasing 27% to 19.19 lakh units from 15.07 lakh units a year earlier.
The company’s profit before tax increased 52% to Rs 1,865 crore from Rs 1,224 crore in the corresponding quarter last year.
However, expenses also increased during the quarter. Total standalone expenses rose 43.4% year-on-year to Rs 15,284 crore from Rs 10,661 crore, reflecting higher material consumption, employee costs, finance costs and other operating expenses.
The cost of materials consumed, the company's largest expense, increased approximately 45% to Rs 12,494 crore from Rs 8,627 crore a year earlier. Employee benefit expenses rose 33% to Rs 806 crore from Rs 607 crore, while other expenses increased 20% to Rs 1,597 crore from Rs 1,332 crore. Its finance costs increased to Rs 124 crore from Rs 47 crore in Q2 FY26, while depreciation and amortisation expenses rose 28% to Rs 276 crore from Rs 215 crore.
For the first half of FY27, standalone revenue increased 41% to Rs 30,999 crore from Rs 21,986 crore in H1 FY26. Net profit grew 52% to Rs 2,551 crore from Rs 1,679 crore, while operating EBITDA increased 44% to Rs 3,998 crore.
TVS Motor's total vehicle sales during the first six months increased 28% to 35.50 lakh units from 27.84 lakh units in the corresponding period last year.
Electric Two-Wheeler Sales More Than Double
The company's electric two-wheeler business recorded strong growth during the quarter, with sales increasing 133% year-on-year to 1,86,186 units from 80,009 units in Q2 FY26.
Motorcycle sales increased 28% to approximately 8.58 lakh units from 6.73 lakh units a year earlier, while scooter volumes rose 29% to 8.25 lakh units from 6.39 lakh units.
Moped sales increased 12% to around 1.57 lakh units, while three-wheeler volumes grew 47% to 78,475 units from 53,449 units in the corresponding quarter last year.
International operations also supported growth, with overseas sales increasing 35% to approximately 5 lakh vehicles from 4 lakh units in Q2 FY26.
Consolidated Net Profit Rises 46%
On a consolidated basis, which includes subsidiaries and associates, TVS Motor reported a 46% year-on-year increase in net profit to Rs 1,219 crore from Rs 833 crore in Q2 FY26.
Consolidated revenue from operations grew approximately 39% to Rs 19,474 crore from Rs 14,051 crore in the corresponding quarter last year.
Total consolidated expenses increased 39% to Rs 17,777 crore from Rs 12,802 crore. Consolidated profit before tax rose 46% to Rs 1,791 crore from Rs 1,223 crore.
Net profit attributable to the company's shareholders increased 50% to Rs 1,195 crore from Rs 795 crore a year earlier.