Popular Vehicles & Services Limited (PVSL), a leading fully integrated automotive dealership player in India, has released its financial results for the quarter and nine months ended December 31, 2023.
Financial Highlights for the Nine Months Ended December 31, 2023:
- Total revenue increased by 19.4% to Rs. 4,274.7 crore compared to Rs. 3,581.6 crore in the same period last year.
- EBITDA rose by 23% to Rs. 216.7 crore.
- Profit After Tax (PAT) increased by 12.5% to Rs. 56 crore.
- Earnings Per Share (EPS) grew by 12.5% to Rs. 8.9.
Financial Highlights for the Quarter Ended December 31, 2023:
- Total revenue surged by 16.9% to Rs. 1,426.5 crore compared to Rs. 1,220.4 crore in the corresponding quarter of the previous year.
- EBITDA increased by 35.3% to Rs. 70.8 crore.
- PAT jumped by 50.2% to Rs. 15.9 crore.
- EPS rose by 50.2% to Rs. 2.5.
Mr. Naveen Philip, Managing Director of Popular Vehicles & Services, expressed his satisfaction with the Q3FY24 results, following the successful listing on India’s stock exchanges. He highlighted the company’s improving margin trends, with EBITDA percentage for the nine months ending December 2023 increasing from 4.9% to 5.1%.
Philip also acknowledged the milestone achievement of the company’s IPO and expressed gratitude to the shareholders for their support. He emphasized PVSL’s commitment to exploring new avenues for growth and profitability while maintaining excellence in automotive dealership and customer satisfaction.
With confidence in sustaining growth momentum, Popular Vehicles & Services Limited looks forward to charting a successful course ahead.
