Business News | TVS Motor Continues Strong Growth Momentum; Records Highest Revenue, EBITDA and PBT in Q1
Get latest articles and stories on Business at LatestLY. Bengaluru (Karnataka) [India], August 6: TVS Motor Company's Revenue from Operations in the quarter ended June 2024 is higher at Rs 8,376 Crores, grew by 16 per cent as against Rs 7,218 Crores in the quarter ended June 2023. The Company posted its highest ever Operating EBITDA of Rs 960 Crores with a growth of 26 per cent for the first quarter of 2024-25 as against EBITDA of Rs 764 Crores in first quarter of 2023-24. Company's operating EBITDA margin significantly improved by 90bps at 11.5 per cent as against 10.6 per cent in the quarter ended June 2023.
NewsVoir
Bengaluru (Karnataka) [India], August 6: TVS Motor Company's Revenue from Operations in the quarter ended June 2024 is higher at Rs 8,376 Crores, grew by 16 per cent as against Rs 7,218 Crores in the quarter ended June 2023. The Company posted its highest ever Operating EBITDA of Rs 960 Crores with a growth of 26 per cent for the first quarter of 2024-25 as against EBITDA of Rs 764 Crores in first quarter of 2023-24. Company's operating EBITDA margin significantly improved by 90bps at 11.5 per cent as against 10.6 per cent in the quarter ended June 2023.
The Company posted its highest ever Profit Before Tax (PBT) of Rs 783 Crores recording a growth of 28 per cent for the first quarter of 2024-25 as against Rs 610 Crores in the first quarter of 2023-24. PBT for the quarter includes notional gain of Rs 28 Crores towards fair valuation of investments held by the Company. During the current quarter, the Company's Profit After Tax (PAT) grew by 23 per cent at Rs 577 Crores as against Rs 468 Crores during first quarter of 2023-24.
Sales
The overall two-wheeler and three-wheeler sales including exports grew by 14 per cent registering sales of 10.87 Lakh units in the quarter ended June 2024 as against 9.53 Lakh units registered in the quarter ended June 2023. Motorcycle sales grew by 11 per cent registering 5.14 Lakh units in the quarter ended June 2024 as against 4.63 Lakh units in quarter ended June 2023. Scooter sales for the quarter ended June 2024 grew by 19 per cent at 4.18 Lakh units as against 3.50 Lakh units in the first quarter of 2023-24. Three-wheeler sales for the quarter under review is at 0.31 Lakh units as against 0.35 Lakh units during first quarter of 2023-24.
Electric Scooter sales for the quarter ended June 2024 is at 0.52 lakh units as against 0.39 lakh units in the quarter ended June 2023.
New Product Launches
During the quarter, Company introduced new variants to TVS iQube portfolio for making electric mobility accessible to everyone. TVS iQube, is now available in three battery options to choose from 2.2 kWh, 3.4kWh and 5.1kWh. TVS iQube series now offers an array of five variants available in vibrant 11 colours, making this one of the largest and most attractive EV portfolios in the market. TVS iQube portfolio is receiving very good response from the customers.
TVS Motor Company (BSE:532343 and NSE: TVSMOTOR) is a reputed two and three-wheeler manufacturer globally, championing progress through sustainable mobility with four state-of-the-art manufacturing facilities located in India and Indonesia. Rooted in our 100-year legacy of trust, value, and passion for customers, it takes pride in making internationally accepted products of the highest quality through innovative and sustainable processes. TVS Motor is the only two-wheeler company to have won the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for four consecutive years. Our group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate.
For more information, please visit www.tvsmotor.com.
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