TVS Motor Company The consolidated net profit of the company for the first quarter of the current financial year ending June 30, 2023 has increased by 42 percent to Rs 434 crore. The company’s profit has increased due to strong sales. The company had earned a net profit of Rs 305 crore in the April-June quarter of the last financial year.
TVS income rises to Rs 9,142 crore in June quarter
TVS Motor Company said in a regulatory filing that its total income rose to Rs 9,142 crore in the June quarter from Rs 7,348 crore in the year-ago period. The company said that its total two-wheeler and three-wheeler sales, including exports, increased by five percent to 9.53 lakh units in the quarter ended June 2023, compared to 9.07 lakh units in the same period of FY 2021-22.
Tremendous jump in sales of electric scooters
TVS said its motorcycle sales grew by seven per cent to 4.63 lakh units in the quarter under review, as against 4.34 lakh units in the June quarter of the previous fiscal. Scooter sales increased by 11 percent to 3.5 lakh units in the first quarter, from 3.15 lakh units in the first quarter of 2022-23. However, three-wheeler sales declined to 35,000 units as against 46,000 units in the year-ago period. Electric scooter sales stood at 39,000 units in April-June this year, up from 9,000 units in the quarter ending June 2022.
registered a growth of 42 percent
Chennai’s leading automobile company TVS Motor Company (TVS Motor Company- TVS)) registered a 42 percent increase in consolidated net profit during the first quarter of 2023-24 and the company registered a profit of Rs 434 crore. The increase in the profit of the company was due to the increase in sales and revenue. The company’s profit during the same period (April to June period) of 2022-23 was Rs 305 crore.
24 percent increase in June quarter
During the quarter under review, the company’s revenue from operations also grew by 24 per cent to Rs 9,056 crore over Q1 FY24. While the company registered a revenue of Rs 7,316 crore in the April to June quarter of FY 2022-23, an increase of 24 per cent, over the same period last year.
EBITDA recorded at Rs 599 crore
During the quarter, the company reported highest ever EBITDA of Rs 764 crore, a growth of 27 per cent, as against Rs 599 crore EBITDA recorded during the first quarter of the previous year. The company’s operating EBITDA margin stood at 10.6 per cent as against 10 per cent in the first quarter of last year.
5 percent increase in two wheeler and three wheeler sales
Total two-wheeler and three-wheeler sales, including exports, grew by 5 percent and recorded sales of 9.53 lakh units in the quarter ending June 2023, as against 9.07 lakh units in the quarter ending June 2022. Motorcycle sales grew by 7 percent to 4.63 lakh units in the quarter ending June 2023, as against 4.34 lakh units in the quarter ending June 2022. Scooter sales grew by 11 percent to 3.50 lakh units in the quarter ending June 2023, as against 3.15 lakh units in the first quarter of 2022-23.
Three wheeler sales stood at 0.35 lakh units in the quarter
Three-wheeler sales stood at 0.35 lakh units in the quarter under review, compared to 0.46 lakh units during the first quarter of 2022-23. Electric scooter sales stood at 39,000 units in the quarter ending June 2023, compared to 9,000 units in the quarter ending June 2022.
TVS is India’s third largest motorcycle company
TVS Motor Company (commonly known as TVS) is an Indian multinational motorcycle manufacturer headquartered in Chennai. It is the third largest motorcycle company in India in terms of revenue. The company has an annual sales of three million units and an annual production capacity of over four million vehicles. TVS Motor Company is also the second largest two-wheeler exporter in India with exports to over 60 countries. TVS Motor Company is the flagship company of TVS Group, which is the largest company of the group in terms of valuation and turnover. There is a red horse in the logo of TVS Motor Company.
TVS models available in the market
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TVS XL100HD iTouch
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TVS Scooty Pep+
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TVS Scooty ZEST110CC
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TVS Jupiter 110cc
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TVS Jupiter 125cc
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TVS Sport
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TVS Star City Plus
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Apache RTR Series
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TVS RR 310
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TVS Radeon
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TVS Sport
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TVS Star City Plus
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TVS XL100
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TVS iQube
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TVS Raider 125
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TVS Ronin 225
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TVS King Duramax
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TVS King Cargo