TVS Motor sales saw a significant increase globally, with motorcycle sales increasing by 14% and Scooter sales rising by 17%.
Key Highlights
TVS Motor announced a 23.5% increase in its standalone net profit to ₹ INR 662.6 crore for the quarter ending September 2024. This is up from ₹ INR 536.5 crore in the same period last year. The company’s revenue from operations for the quarter went up 13% year-on-year to ₹ 9,228.2 crore.
However, both the net profit and revenue fell short of the expected numbers from financial experts. The estimated figures were ₹ INR 669 crore for net profit and ₹ 9,534 crore for revenue.
TVS Motor also achieved its highest ever operating EBITDA of ₹ 1,080 crore, showing a 20% growth compared to the second quarter of FY 2023-24. This is up from EBITDA of ₹ INR 900 crore in the same period last fiscal year.
The company’s profitability has improved in the latest quarter compared to the same period last year. The profit before tax (PBT) has increased by 24% to INR 897 crore. This quarter’s PBT includes a fair valuation gain of INR 23 crore, lower than the INR 38 crore gain in the same quarter last year. Additionally, the company’s operating earnings margin has also improved from 11.0% to 11.7%.
TVS Motor sales in Q2
In the quarter ending September 2024, sales of motorcycles and scooters, both within the country and internationally, saw a significant increase. The total sales of two-wheelers and three-wheelers, including exports, grew by 14%, reaching a record high of 12.28 lakh units, compared to 10.74 lakh units in the same quarter of 2023.
Motorcycle sales went up by 14%, with 5.60 lakh units sold in the quarter, up from 4.93 lakh units in the same period last year. Scooter sales also saw a 17% rise, reaching 4.90 lakh units, compared to 4.20 lakh units in the year-ago period.
Exports of two-wheelers grew by 16%, totaling 2.78 lakh units in the quarter, compared to 2.39 lakh units in the same quarter of the previous year. However, the sales of three-wheelers stood at 0.38 lakh units, down from 0.43 lakh units in the same quarter last year.
Sales Trend
The company sold 75,000 electric vehicles in the quarter ending September 2024, which is a 31% increase from the 58,000 units sold in the same quarter last year.
New Launch
This year, the company introduced the brand new TVS Jupiter 110. It has a lot of great features that are the best in its category. The company announced that the TVS Jupiter 110 is getting a really good response from customers. On Wednesday, the company’s shares finished 3% lower at INR 2,582 on the BSE.
The company’s operating EBITDA showed a significant growth, and the sales of electric vehicles also saw a notable increase. The introduction of the new TVS Jupiter 110 seems to have garnered positive customer response despite the dip in the company’s sharesELCTRIK Speaks
