TVS Motor Achieves Highest Ever Revenue and Profits in Q2
Wednesday, 23 October 2024 ()
· Records highest ever Quarterly ICE and EV sales
· Posts highest ever PAT of Rs. 663 Crs in Q2 and Rs. 1,240 Crs in H1 FY 2024-25TVS Motor Company posts highest ever operating revenue of Rs. 9,228 Crores registering a growth of 13% for the quarter ended September 2024 as against Rs. 8,145 Crores reported in the quarter ended September 2023.
The Company posted its highest ever Operating EBITDA of Rs. 1,080 Crores registering a growth of 20% for the quarter ended September 2024 as against EBITDA of Rs. 900 Crores in second quarter of 2023-24. Company's operating EBITDA margin significantly improved by 70bps at 11.7% as against 11.0% in the quarter ended September 2023.
The Company's Profit Before Tax (PBT) grew by 24% at Rs. 897 Crores for the second quarter of 2024-25 as against PBT of Rs. 724 Crores in second quarter of 2023-24. PBT for the quarter includes fair valuation gain of Rs. 23 Crores as against Rs. 38 Crores during Q2 of last year.
*Sales*
The overall two-wheeler and three-wheeler sales including exports grew by 14% registering highest ever quarterly sales of 12.28 Lakh units in the quarter ended September 2024 as against 10.74 Lakh units registered in the quarter ended September 2023. Motorcycle sales grew by 14% registering 5.60 Lakh units in the quarter ended September 2024 as against 4.93 Lakh units in quarter ended September 2023. Scooter sales for the quarter ended September 2024 grew by 17% registering 4.90 Lakh units as against the sales of 4.20 Lakh units in the second quarter of 2023-24. The two-wheeler exports grew by 16% registering 2.78 Lakh units in the quarter ended September 2024 as against 2.39 Lakh units in the quarter ended September 2023. Total three-wheeler sales for the quarter under review was at 0.38 Lakh units as against 0.43 Lakh units during second quarter of 2023-24.*EV Sales*
During the quarter under review, the Company's EV sales grew by 31% registering highest ever quarterly sales of 0.75 Lakh units in the quarter ended September 2024 as against 0.58 Lakh units during quarter ended September 2023.
*Half-year results:* The total two-wheeler sales of the Company for the half-year ended September 2024 grew by 15% registering 22.47 Lakh units as against 19.50 Lakh units recorded in the half-year ended September 2023. The total three-wheeler sales for the half-year ended September 2024 is at 0.69 Lakh units as against 0.78 Lakh units registered in the half-year ended September 2023. The total export of two and three-wheelers for the half-year ended September 2024 grew by 11% at 5.62 Lakh units as against 5.04 Lakh units in the half-year ended September 2023.Total revenue in the half-year ended September 2024 grew by 15% at Rs. 17,604 Crores against Rs. 15,363 Crores in the half-year ended September 2023. PBT for the half-year ended September 2024 grew by 26% at Rs. 1,680 Crores as against Rs. 1,334 Crores in the half-year ended September 2023. During the half-year ended September 2024, PAT grew by 23% at Rs. 1,240 Crores as against Rs. 1,004 Crores in the half-year ended September 2023.*New Product*
During the quarter ended September 2024, Company launched the all new TVS Jupiter 110 with Unparalleled Design, Performance, Comfort and Convenience. It comes with many First and / or best-in-segment features. The all new TVS Jupiter 110 is receiving very good response from customers.*About TVS Motor Company*
TVS Motor Company (BSE:532343 and NSE: TVSMOTOR) is a reputed two and three-wheeler manufacturer globally, championing progress through sustainable mobility with four state-of-the-art manufacturing facilities located in India and Indonesia. Rooted in our 100-year legacy of trust, value, and passion for customers, it takes pride in making internationally accepted products of the highest quality through innovative and sustainable processes. TVS Motor is the only two-wheeler company to have won the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in /the J.D. Power Customer Service Satisfaction Survey for four consecutive years. Our group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate.
Additional details and updates are available on www.tvsmotor.com.
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