TVS Motor Company’s revenue from operations in the quarter ended June 2023 grew by 20 per cent year-on-year (YoY) at Rs. 7,218 crore as against Rs. 6,009 crore in the quarter ended June 2022.
The Company reported its highest ever Operating EBITDA of Rs. 764 crore with a growth of 27 per cent for the first quarter of 2023-24 as against EBITDA of Rs. 599 crore in the first quarter of 2022-23. The company’s operating EBITDA improved by 60bps at 10.6 per cent as against 10.0 per cent in the quarter ended June 2022.
The Company posted its highest ever Profit Before Tax (PBT) of Rs. 610 crores recording a growth of 41 per cent for the first quarter of 2023-24 as against of Rs. 432 crores in the first quarter of 2022-23.
PBT for the quarter includes Rs. 55.6 crore towards profit on the sale of investments. During the current quarter, the company’s profit after tax (PAT) grew by 46 per cent at Rs. 468 crore as against Rs. 321 crore during the first quarter of 2022-23.
The overall two-wheeler and three-wheeler sales including exports grew by 5 per cent registering sales of 9.53 Lakh units in the quarter ended June 2023 as against 9.07 Lakh units registered in the quarter ended June 2022. Motorcycle sales grew by 7 per cent, writing 4.63 Lakh units in the quarter ending June 2023 as against 4.34 Lakh units ending June 2022.
Scooter sales for the quarter ended June 2023 grew by 11 per cent at 3.50 Lakh units as against 3.15 Lakh units in the first quarter of 2022-23. Three-wheeler sales for the quarter under review is at 0.35 Lakh units as against 0.46 Lakh units during first quarter of 2022-23.
Electric Scooter sales for the quarter ended June 2023 are at 39,000 units as against 9,000 units in the quarter ended June 2022. The booking for TVS iQube continues to be healthy.
NewsVoir/ANI
