TVS Motor Company’s profit after tax (PAT) grew 46 per cent to ₹468 crore in Q1 of this fiscal against ₹321 crore during the first quarter of FY23.
Its profit before tax (PBT) stood at ₹610 crore against ₹432 crore in the year-ago quarter, up 41 per cent. PBT for the June 2023 quarter included ₹55.6 crore towards profit on the sale of investments, per a statement by the company.
The company posted its highest-ever operating EBITDA of ₹764 crore with a growth of 27 per cent for the first quarter of FY24 against EBITDA of ₹599 crore. Revenue from operations grew 20 per cent to ₹7,218 crore against ₹6,009 crore in Q1 of FY23.
The company’s overall two-wheeler and three-wheeler sales, including exports, grew 5 per cent to 9.53 lakh units in Q1 of FY24 against 9.07 lakh units registered in the quarter ended June 2022.
Motorcycle sales grew 7 per cent to 4.63 lakh units against 4.34 lakh units in the year-ago quarter. Scooter volumes increased 11 per cent at 3.50 lakh units against 3.15 lakh units in the first quarter of FY23. Three-wheeler sales were lower at 0.35 lakh units against 0.46 lakh units.
Electric Scooter sales in June 2023 quarter was significantly higher at 39,000 units when compared with 9,000 units in the year-ago quarter, helped by a healthy order book for e-scooter iQube.