TVS Motor Q2 net profit up 32% at Rs 537 crore

TVS Motor Company reported a 32 percent growth in its net profit growth in the quarter ended September 30, 2023 at Rs 537 crore, as against Rs 408 crore during Q2 of last year. Meanwhile, the company's operating revenue also grew by 13 percent at Rs 8,145 crore for the quarter ended September 2023, as against Rs 7,219 crore reported in the quarter ended September 2022.

Its operating EBITDA grew by 22 percent at Rs 900 crore for the quarter under review as against EBITDA of Rs 737 crore in the same quarter last year. The Company’s EBITDA margin for Q2 FY24 was 11 percent as against EBITDA margin of 10.2 percent reported in the second quarter of 2022-23.

The Company’s cumulative TVS iQube sales surpassed 2 lakh units. During the quarter under review, the company sold 0.58 lakh units compared to 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 percent, 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 crore against Rs 13,228 crores in the half-year ended September 2022. PBT for the half-year ended September 2023 grew by 36 percent at Rs 1,334 crore (includes other income of Rs 93.1 crore 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 crore as against Rs 728 crore in the half-year ended September 2022.