TVS Motor on Wednesday reported 23.5% growth in its standalone net profit at INR 662.6 crore for the quarter ended September 2024. The same stood at INR 536.5 crore in the year-ago period.
Its revenue from operations during the reporting quarter rose 13% year-on-year (YoY) to INR 9,228.2 crore.
Both net profit and revenue missed Street estimates, which were pegged at INR 669 crore and INR 9,534 crore, respectively.
The company posted its highest ever operating EBITDA of INR 1,080 crore registering a growth of 20% for the quarter ended September 2024 as against EBITDA of INR 900 crore in the second quarter of FY 2023-24.
The company’s operating EBITDA margin significantly improved by 70bps at 11.7% as against 11.0% in the quarter ended September 2023.
Profit before tax (PBT) for the second quarter of FY2024-25 grew by 24% to INR 897 crore, compared to INR 724 crore in the same quarter of FY2023-24. The PBT for this quarter includes a fair valuation gain of INR 23 crore, down from INR 38 crore in Q2 of last year.
TVS Motor sales in Q2
Overall two-wheeler and three-wheeler sales, including exports, grew by 14%, reaching a record high of 12.28 lakh units in the quarter ended September 2024, compared to 10.74 lakh units in the same quarter of 2023.
Motorcycle sales increased by 14%, with 5.60 lakh units sold in Q2 FY-25, up from 4.93 lakh units in Q2 FY24. Scooter sales also saw a 17% rise, reaching 4.90 lakh units, compared to 4.20 lakh units in the year-ago period.
Two-wheeler exports grew by 16%, registering 2.78 lakh units in Q2 FY25, compared to 2.39 lakh units in Q2 FY24. Total three-wheeler sales stood at 0.38 lakh units, down from 0.43 lakh units in the same quarter last year.
EV Sales
The company’s EV sales grew by 31%, registering the highest-ever quarterly sales of 0.75 lakh units in the quarter ended September 2024 as against 0.58 lakh units reported in the quarter ended September 2023.
New Product
In Q2 FY2024-25, the company launched the all-new TVS Jupiter 110. It comes with many first and/or best-in-segment features. The all-new TVS Jupiter 110 is receiving very good response from customers, the company said in an exchange filing.
On Wednesday, the company's shares closed 3% lower at INR 2,582 on BSE.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
