TVS Motor Q1 Results: Net profit rises 23.4% to ₹577.3 crore, revenue up 16%

In the quarter ended June 2024, revenue from operations stood at ₹8,375.5 Crores, reflecting a 16% year-on-year (YoY) increase as against ₹7217.9 crore in the corresponding period last year.

Following the earnings, the company's shares were trading 2% lower at ₹2,439.4 apiece on the NSE.

The company posted its highest-ever operating EBITDA (earnings before interest, taxes, depreciation, and amortization) of ₹960 crore, with a growth of 26% YoY for the latest June quarter, compared to ₹764 crore a year ago, the company said in an exchange filing.

The overall two-wheeler and three-wheeler sales, including exports, rose by 14% YoY to 10.87 lakh units in the quarter under review against 9.53 lakh units in the year-ago period.

Scooter sales in the first quarter of FY25 grew by 19% at 4.18 Lakh units as against 3.50 lakh units year-ago.

Electric scooter sales for the April-June quarter of the current financial year were 0.52 lakh units, as against 0.39 lakh units in the quarter ended June 2023.

Year-to-date, the stock has surged 20.1%, while it has gained 79.8% in the past year.