TVS Motor Q2 Profit Soars 41%, Hits Record Sales of 12.28 Lakh Units

24 Oct 2024 , 11:56 AM

TVS Motor Company, based in Chennai, reported a 41.4% increase in consolidated net profit, reaching ₹588.13 Crore for Q2 FY25 (ending September 30, 2024).

The company’s net profit for the same quarter last fiscal stood at ₹415.93 Crore. Revenue from operations for Q2 FY25 grew to ₹11,301.68 Crore, up from ₹9,932.82 Crore in Q2 FY24. Total expenses for the quarter rose to ₹10,427.64 Crore, compared to ₹9,297.34 Crore in the previous year.

At the time of writing on October 24, 2024 at 11:51 am, shares of TVS Motor Company are trading at ₹2519.95 which is a 1.68% dip than the previous close. TVS Motor Company stock has gained a total of 60% in the last one year, and 24% since the beginning of the year.

TVS achieved its highest-ever operating EBITDA of ₹1,080 Crore, reflecting a 20% growth over ₹900 Crore in Q2 FY24. EBITDA margin improved by 70 basis points, reaching 11.7%, compared to 11.0% in the same quarter last year.

Profit Before Tax (PBT) increased by 24%, standing at ₹897 Crore, up from ₹724 Crore in Q2 FY24. PBT includes a fair valuation gain of ₹23 Crore, compared to ₹38 Crore last year.

The company posted record sales of 12.28 lakh units, up 14% from 10.74 lakh units in Q2 FY24. Motorcycle sales grew by 14%, reaching 5.60 lakh units. Scooter sales rose by 17%, totaling 4.90 lakh units. Two-wheeler exports increased by 16%, reaching 2.78 lakh units.

Electric vehicle (EV) sales surged by 31%, hitting 75,000 units, up from 58,000 units in Q2 FY24. Three-wheeler sales dropped to 38,000 units, compared to 43,000 units in the year-ago quarter.