TVS Motor Company marks a 13 per cent growth in operating revenue, which grew to Rs 8,145 crore for the quarter ended September 2023 as against Rs 7,219 crore reported in the quarter ended September 2022.
The operating EBITDA grew by 22 per cent at Rs 900 crore for the second quarter of 2023-24 as against EBITDA of Rs 737 crores in second quarter of 2022-23. The company's EBITDA margin for the quarter is at 11.0 per cent as against EBITDA margin of 10.2 per cent reported in the second quarter of 2022-23.
Profit Before Tax grew by 32 per cent at Rs 724 crore for the second quarter of 2023-24 as against PBT of Rs 549 crore in second quarter of 2022-23.
Sales
The overall two-wheeler and three-wheeler sales including exports grew by 5 per cent registering 10.74 lakh units in the quarter ended September 2023 as against 10.27 lakh units registered in the quarter ended September 2022.
Motorcycle sales grew by 3 per cent registering 4.93 lakh units in the quarter ended September 2023 as against 4.77 Lakh units in quarter ended September 2022.
Scooter sales for the quarter ended September 2023 grew by 10 per cent registering 4.20 lakh units as against the sales of 3.83 lakh units in the second quarter of 2022-23.
The company recorded two-wheeler exports of 2.39 lakh units in the quarter ended September 2023 as against 2.52 lakh units in the quarter ended September 2022.
Total three-wheeler sales for the quarter under review was at 0.43 Lakh units as against 0.51 Lakh units during second quarter of 2022-23.
EV Sales:
The company's cumulative TVS iQube sales surpassed 2 lakh units. During the quarter under review, the company sold 0.58 lakh units as against 0.16 lakh units during quarter ended September 2022.
Half-year results:
The total two-wheeler sales of the Company for the half-year ended September 2023 grew by 6 per cent registering 19.50 lakh units as against 18.38 lakh units recorded in the half-year ended September 2022.
The total three-wheeler sales for the half-year ended September 2023 is at 0.78 lakh units as against 0.97 lakh units registered in the half-year ended September 2022.
The total export of two and three-wheelers for the half-year ended September 2023 is at 5.04 lakh units as against 6.36 lakh units in the half-year ended September 2022.
Total revenue in the half-year ended September 2023 is at Rs 15,362 crore against Rs. 13,228 Crores in the half-year ended September 2022. PBT for the half-year ended September 2023 grew by 36 per cent at Rs 1,334 crore as against Rs 981 crore in the half-year ended September 2022.
During the half-year ended September 2023, the Company reported Profit After Tax of Rs. 1,004 crore as against Rs 728 crore in the half-year ended September 2022.
New Product Launches:
In the current quarter, TVS Motor Company introduced two new products:
TVS X, the premium electric crossover and TVS Apache RTR 310, the 'New Freestyle Performance' motorcycle. The company also announced the launch of India's first-ever electric two-wheeler racing championship, TVS Racing Electric One Make Championship.