TVS Motor Company Q4 Results: Net profit jumps 18% YoY to Rs 485 crore
TVS Motor Company on Wednesday reported an 18% increase in standalone net profit to Rs 485.43 crore for the fourth quarter ended March 31, 2024.
The company had posted net profit of Rs 410.27 crore in the year-ago period.
TVS Motor Company’s revenue from operations in the quarter under review grew by 24% to Rs 8,169 crore as against Rs 6,605 crore registered in the quarter ended March 2023.
Operating EBITDA (Earnings before interest, tax, depreciation and amortisation) for the quarter under review stood at 11.3% as against 10.3% during the fourth quarter of last year. The company posted highest ever Operating EBITDA of Rs 926 crore for the fourth quarter with a growth of 36% as against Rs 680 crore in fourth quarter of 2022-23.
Overall, two-wheeler and three-wheeler sales, including exports, grew by 22% to 10.63 lakh units in the quarter ended March 2024 as against 8.68 lakh units registered in the quarter ended March 2023.
In the full financial year FY24, the company registered its highest-ever revenue and profit. The company reported net profit of Rs 2083 crore last fiscal, over Rs 1,491 crore in FY23. Revenue from operations grew by 20% to Rs 31,776 crore last fiscal as against Rs. 26,378 crore recorded in 2022-23. Operating EBITDA for the year improved by 100 bps at 11.1% over the previous year.
TVS Motor Company also crossed the milestone selling more than 40 lakh units during the year.
Shares of TVS Motor Company closed at Rs 2006.15 apiece, up by 1.29% on the Bombay Stock Exchange (BSE). The results
