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TVS Motor shares jump 5.6% after strong Q1 results
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2 min read | Updated on August 07, 2024, 11:56 IST
SUMMARY
TVS Motor posted a 23% rise in its Q1FY25 net profit at ₹577 crore, as against ₹468 crore during Q1FY24. The revenue from operations grew 16% year-on-year to ₹8,376 crore.
Stock list
Year-to-date, TVS Motor's shares have surged by around 26%
TVS Motor Company's shares spiked by up to 5.6% in early trade on Wednesday, August 7, a day after the two and three-wheeler manufacturer posted strong results for the quarter ended June 2024.
The stock opened in the green at ₹2,535 apiece on the National Stock Exchange (NSE), up 2.2% as against the last closing price.
By 11:30 am, the stock pared much of the gains, but was still trading 3% higher at ₹2,553.4 apiece on the NSE.
TVS Motor Q1 results
The automobile major's profit after tax (PAT) grew by 23% to ₹577 crore during the first quarter of fiscal year 2024-25 (Q1FY25), as against ₹468 crore during Q1FY24.
The revenue from operations grew 16% year-on-year to ₹8,376 crore during the quarter under review, as compared to ₹7,218 crore in the quarter ended June 2023.
The operating EBITDA (earnings before interest, taxes, depreciation and amortisation) came in at ₹960 crore in Q1FY25, which is the company's "highest-ever" and 26% higher than ₹764 crore in the year-ago period.
The operating EBITDA margin significantly improved by 90 basis points to 11.5% as against 10.6% in Q1FY24.
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