TVS Motor Company sees significant growth in Q1 FY24 revenue and EBITDA
TVS Motor Company witnessed a 20% rise in operational revenue for Q1 FY24, amounting to Rs. 7,218 Crores, compared to Rs. 6,009 Crores in Q1 FY23.
The Indian multinational motorcycle company recorded its highest Operating EBITDA to date at Rs. 764 Crores in Q1 FY24, showing a 27% growth from Rs. 599 Crores in the same period the previous year. The company’s operating EBITDA margin saw an increase of 60bps, settling at 10.6% compared to 10.0% in Q1 FY23.
TVS Motor records 20% rise in revenue, achieves highest ever operating EBITDA in Q1 FY24. Photo courtesy of Modern Motors/Wikimedia Commons.
Furthermore, TVS Motor Company posted its highest-ever Profit Before Tax (PBT) in Q1 FY24 at Rs. 610 Crores, a 41% surge from Rs. 432 Crores in Q1 FY23. Notably, this PBT included an Rs. 55.6 Crores profit from the sale of investments. The company’s Profit After Tax (PAT) for Q1 FY24 grew by 46%, amounting to Rs. 468 Crores, compared to Rs. 321 Crores in Q1 FY23.
In terms of sales, the company’s overall two and three-wheeler sales, including exports, rose by 5% to 9.53 Lakh units in Q1 FY24, compared to 9.07 Lakh units in Q1 FY23. Motorcycle sales showed a 7% growth, whereas scooter sales increased by 11%. However, three-wheeler sales dropped compared to Q1 FY23. The electric scooter sales of TVS iQube saw a significant increase, with bookings continuing to be robust.