TVS Motor Q4 profit up 18% YoY; FY24 profit grows 40% to highest ever

Total volume during the year crossed the 40 lakh units mark while electric vehicle sales doubled to 1.94 lakh units.

Autocar Pro News Desk By Autocar Pro News Desk calendar 08 May 2024 Views icon5970 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
TVS Motor Q4 profit up 18% YoY; FY24 profit grows 40% to highest ever

TVS Motor Co today reported an 18 percent on-year increase in its fourth-quarter net profit, while its profit for the full financial year 2024 was the highest ever with a growth of around 40 percent. The profit grew on the back of robust margins, which was primarily driven by higher volumes. 

The automaker’s fourth quarter standalone net profit came in at Rs 485.43 crore, compared with Rs 410.27 crore in the year-ago quarter. Revenue from operations rose 24 percent to Rs 8,168.84 crore during the period.

TVS Motor saw its overall two-wheeler and three-wheeler volume, including exports, grow 22 percent to 10.63 lakh units in the quarter. Motorcycle volume increased 32 percent to 5.11 lakh units while scooter volume rose 16 percent to 3.96 lakh units.

The company recorded a 15 percent uptick in its electric vehicle sales as well to 49,000 units. Total three-wheeler sales during the quarter came in at 30,000 units, up 4 percent on year.

On the profitability front, TVS Motor’s EBITDA margin, or operating profit margin, improved to 11.3 percent, against 10.3 percent in the year-ago quarter. EBITDA for the quarter was the highest ever at Rs 926 crore with a growth of 36 percent on year.

For the full financial year 2024, the company recorded its highest-ever profit of Rs 2,083 crore, compared with Rs 1,491 crore in FY23. Revenue from operations was also the highest level as it grew 20 percent to Rs 31,776 crore.

Total volume during the year crossed the 40 lakh units mark while electric vehicle sales doubled to 1.94 lakh units.

EBITDA rose around 31 percent to Rs 3,514.11 crore and EBITDA improved by around 100 basis points to 11 percent from 10 percent in the financial year 2023.

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