TVS Motor Q1 Results Highlights: Revenue Rises 16% to ₹8,376 Cr

TVS Motor Company Ltd. posted a net profit of ₹577 crore for the April-June quarter. The company's revenue for the period grew by 16% compared to the previous year, totaling ₹8,376 crore. The EBITDA margin increased by 50 basis points to 11.5%, matching analyst expectations.

TVS Motor Q1 Results Highlights

TVS Motor Company Ltd., a manufacturer of two and three-wheeler vehicles, reported a net profit of ₹577 crore for the April-June quarter, aligning with the CNBC-TV18 poll estimate of ₹574 crore.

The company’s revenue for the quarter saw a 16% increase from the previous year, reaching ₹8,376 crore, closely matching the forecasted ₹8,365 crore.

The quarter’s Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) amounted to ₹960.1 crore, reflecting a 21.7% growth from the same period last year, and meeting the expected ₹968 crore.

During this period, the EBITDA margin expanded by 50 basis points to 11.5%, in line with analyst projections. TVS Motor’s overall sales of two and three-wheelers, including exports, rose by 14% year-over-year, totaling 10.87 lakh units compared to 9.53 lakh units in the prior year.

Motorcycle sales experienced an 11% year-over-year increase, amounting to 5.14 lakh units, while electric scooter sales for the quarter reached 52,000 units, up from 39,000 units the previous year. This quarter, TVS Motor introduced new variants in the TVS iQube series, now offering three battery options and five different variants.

Out of 42 analysts covering TVS Motor, 21 have a "buy" rating, nine recommend "hold," and 12 suggest "sell."

Following the earnings announcement, TVS Motor Company shares have fallen from the day’s high and are currently trading at ₹2,492.

About TVS Motor Company Ltd

TVS Motor Company Ltd (TVS Motor), a subsidiary of Sundaram Clayton Ltd and part of the TVS Group, is an automotive company that produces and sells two-wheelers and three-wheelers. In addition, the company provides automotive components and financial services. TVS Motor's two-wheeler lineup includes motorcycles, scooters, and mopeds under various brands such as the Apache series, TVS Victor, Star City, Wego, Scooty Pept, and Scooty Zest.

For three-wheelers, the company offers the TVS King. TVS Motor operates manufacturing facilities in Tamil Nadu, Karnataka, and Himachal Pradesh, India, as well as in Karawang, Indonesia. The company has a market presence in regions including the Middle East, Africa, Southeast Asia, the Indian subcontinent, and Latin and Central America. TVS Motor is headquartered in Chennai, India.