Chennai-based TVS Motor Company reported a 41.4 per cent increase in consolidated net profit, reaching ₹588.13 crore for the second quarter ended September 30, 2024, driven by record sales.
TVS Motor Co, in a regulatory filing, reported a net profit of ₹415.93 crore for the same quarter last fiscal. The company's revenue from operations for the second quarter reached ₹11,301.68 crore, up from ₹9,932.82 crore in the corresponding period of the previous year.
Total expenses during the quarter rose to ₹10,427.64 crore, compared to ₹9,297.34 crore in the year-ago period.
The company achieved its highest-ever operating EBITDA of ₹1,080 crore for the quarter ending September 2024, reflecting a 20 per cent growth compared to ₹900 crore in the second quarter of 2023-24. Additionally, the company's operating EBITDA margin saw a significant improvement of 70 basis points, rising to 11.7 per cent from 11.0 per cent in the quarter ending September 2023.
The company’s Profit Before Tax (PBT) grew by 24 per cent at ₹897 crore for the second quarter of 2024-25 as against PBT of ₹724 crore in second quarter of 2023-24. PBT for the quarter includes fair valuation gain of ₹23 crores as against ₹38 crore during Q2 of last year.
TVS Motor Company reported its highest-ever quarterly sales of 12.28 lakh units, including two and three-wheelers and exports, for the second quarter—up 14 per cent from 10.74 lakh units in the same period last year.
Motorcycle sales rose by 14 per cent, reaching 5.60 lakh units compared to 4.93 lakh units in the previous year's second quarter. Scooter sales increased by 17 per cent, totaling 4.90 lakh units versus 4.20 lakh units during the same quarter of FY24.
Two-wheeler exports grew 16 per cent to 2.78 lakh units, up from 2.39 lakh units in the year-ago quarter.
Meanwhile, three-wheeler sales dropped to 38,000 units in the second quarter, down from 43,000 units in Q2 FY23.
Electric vehicle sales surged by 31 per cent, hitting 75,000 units, up from 58,000 units in the quarter ended September 30, 2023.
