TVS Motor Company has announced a robust financial performance for the quarter ended March 2024, with a significant growth in revenue from operations. The company’s revenue surged by 24% to Rs. 8,169 Crores, compared to Rs. 6,605 Crores in the same quarter last year. Operating EBITDA also witnessed a notable increase, standing at 11.3% as against 10.3% in the fourth quarter of the previous year. The company achieved its highest-ever Operating EBITDA of Rs. 926 Crores, marking a growth of 36%.
Full-Year Performance Highlights
For the financial year 2023-24, TVS Motor Company reported a 20% growth in revenue from operations, reaching Rs. 31,776 Crores compared to Rs. 26,378 Crores in the previous year. Operating EBITDA for the year improved by 100 basis points to 11.1%, while the Profit Before Tax (PBT) surged by 39% to Rs. 2,781 Crores. The Profit After Tax (PAT) for the year stood at Rs. 2,083 Crores, reflecting a substantial increase from the previous year’s Rs. 1,491 Crores.
Sales Performance for Q4 2023-24
In the fourth quarter of 2023-24, TVS Motor Company witnessed significant growth across its two-wheeler and three-wheeler segments. Overall sales, including exports, grew by 22% to 10.63 Lakh units compared to 8.68 Lakh units in the same quarter last year. Motorcycle sales surged by 32% to 5.11 Lakh units, while scooter sales grew by 16% to 3.96 Lakh units. Electric vehicle sales also saw a notable increase of 15%, reaching 0.49 Lakh units. Three-wheeler sales grew by 4% to 0.30 Lakh units.
Sales Performance for FY 2023-24
TVS Motor Company achieved record sales of over 4 million units in the financial year ended March 2024. The overall two-wheeler and three-wheeler sales grew by 14% to 41.91 Lakh units compared to 36.82 Lakh units in the previous year. Motorcycle sales increased by 15% to 19.90 Lakh units, while scooter sales grew by 18% to 15.70 Lakh units. Electric vehicle sales witnessed a remarkable growth of 101%, reaching 1.94 Lakh units. Three-wheeler sales for the fiscal year stood at 1.46 Lakh units.
