TVS Motor Q1 Results: Profit rises 46% YoY to Rs 468 crore; revenue jumps 20%

economictimes.indiatimes.com:

Revenue from operations during the reporting quarter rose 20% year-on-year (YoY)to Rs 7,218 crore. The profit was slightly above the ET Now Poll estimate of Rs 432 crore, while revenue fell short of expectations. The company posted its highest-ever operating EBITDA at Rs 764 crore, with a growth of 27% for the first quarter.

It was Rs 599 crore in the corresponding quarter of previous year. EBITDA margins improved 60 basis points at 10.6% against 10% in the year-ago period. The company also clocked a record profit before tax (PBT) of Rs 610 crore, recording a growth of 41% for the first quarter.

PBT for the quarter includes Rs 55.6 crore towards profit on the sale of investments. Total expenses for the quarter jumped 19% YoY to Rs 6,665 crore for the June quarter, against Rs 5,599 crore in the same quarter of last year. The overall two- and three-wheeler sales, including exports, grew 5% to 9.53 lakh units in the quarter ended June, compared with 9.07 lakh units in the last year period.

Motorcycle sales rose 7% to 4.63 lakh units in the first quarter, while scooter sales for the same period increased 11% to 3.50 lakh units. The company sold 35,000 three-wheelers during the quarter, down from 46,000 units in the same quarter of last year. Electric scooter sales picked up pace in the reporting quarter with 39,000 units against a meagre 9,000 units in the quarter ended June 2022.