TVS Motor clocked a standalone net profit of Rs 593 crore in the quarter ending December 2023, which is 68 percent higher as compared to Rs 352 crore in the year-ago period, as per the financial results declared by the two-wheeler major on January 24.
The company's revenue from operations during Q3FY24 came in at Rs 8,245 crore, 26 percent higher as compared to Rs 6,545 crore reported in the corresponding period of the previous fiscal.
The earnings before interest, taxes, depreciation and ammortisation (EBITDA) grew by 40 percent on-year to Rs 924 crore, whereas, the EBITDA margin for the quarter stood at 11.2 percent as against 10.1 percent in the year-ago period.
TVS Motor's total two-wheeler sales during the October-December period came in at 10.63 lakh units, higher as against 8.36 lakh units in the same period of the previous fiscal year.
Two-wheeler exports came in at 2.16 lakh units as against 2.07 lakh units in December 2022 quarter, it said in a release.
Meanwhile, the sale of three-wheelers dropped to 38,000 units in Q3FY24, from 43,000 units in the year-ago period.
The sale of electric vehicles, however, increased to 48,000 units in the third quarter, from 29,000 units in the same period last year.
In the trading session on January 24, TVS Motor's scrip settled at Rs 2,003.70 apiece on the BSE, higher by 0.83 percent as against the previous day's close.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
