TVS Motor Company records its highest ever operating EBITDA with a growth of 27% in Q1 of FY23-24

EBITDA for Q1 2023-24 highest at 10.6% and PBT of Rs. 610 Crs

Bengaluru: TVS Motor Company’s revenue from operations in the quarter ended June 2023 grew by 20% at Rs. 7,218 Crores as against Rs. 6,009 Crores in the quarter ended June 2022. The Company posted its highest ever Operating EBITDA of Rs. 764 Crores with a growth of 27% for the first quarter of 2023-24 as against EBITDA of Rs. 599 Crores in first quarter of 2022-23. Company’s operating EBITDA improved by 60bps at 10.6% as against 10.0% in the quarter ended June 2022.

The Company posted its highest ever Profit Before Tax (PBT) of Rs.610 Crores recording a growth of 41% for the first quarter of 2023-24 as against of Rs. 432 Crores in the first quarter of 2022-23. PBT for the quarter includes Rs. 55.6 Crores towards profit on sale of investments. During the current quarter, the Company’s Profit After Tax (PAT) grew by 46% at Rs. 468 Crores as against Rs. 321 Crores during first quarter of 2022-23.

Sales:
The overall two-wheeler and three-wheeler sales including exports grew by 5% registering sales of 9.53 Lakh units in the quarter ended June 2023 as against 9.07 Lakh units registered in the quarter ended June 2022. Motorcycle sales grew by 7% registering 4.63 Lakh units in the quarter ended June 2023 as against 4.34 Lakh units in quarter ended June 2022. Scooter sales for the quarter ended June 2023 grew by 11% at 3.50 Lakh units as against 3.15 Lakh units in the first quarter of 2022-23. Three-wheeler sales for the quarter under review is at 0.35 Lakh units as against 0.46 Lakh units during first quarter of 2022-23.
Electric Scooter sales for the quarter ended June 2023 is at 39,000 units as against 9,000 units in the quarter ended June 2022. The booking for TVS iQube continues to be healthy.