Click it and Unblock the Notifications
TVS Motor Company Achieves Record Revenue And Profits In Second Quarter Of 2024
In an impressive financial performance, TVS Motor Company achieved its highest operating revenue to date, soaring to Rs. 9,228 Crores in the quarter ending September 2024. This marks a commendable 13% increase from the Rs. 8,145 Crores reported in the same period of the previous year.
Equally was the company's operating EBITDA, which escalated to Rs. 1,080 Crores, up by 20% from Rs. 900 Crores in the second quarter of 2023-24. This growth not only highlights the company's robust financial health but also showcases its ability to significantly enhance profit margins, with the operating EBITDA margin improving by 70 basis points to 11.7%.
Sales figures from the same period further underscore the company's strong market performance. Both two-wheeler and three-wheeler sales, including exports, witnessed a 14% rise, hitting a record quarterly high of 12.28 Lakh units compared to 10.74 Lakh units in the previous year.
Specifically, motorcycle sales surged by 14%, reaching 5.60 Lakh units, while scooter sales increased by 17%, totaling 4.90 Lakh units. Even more impressive was the 16% growth in two-wheeler exports, amounting to 2.78 Lakh units. However, three-wheeler sales saw a slight dip, with 0.38 Lakh units sold in comparison to 0.43 Lakh units in the second quarter of 2023-24.
TVS Motor's Electric Vehicle (EV) Segment and Half-Year Performance
The electric vehicle (EV) sector of TVS Motor Company also saw remarkable growth, with sales up by 31%, setting a new quarterly record with 0.75 Lakh units sold in the quarter ending September 2024, up from 0.58 Lakh units in the same quarter the previous year. This surge in EV sales reflects the company's strong position in the rapidly expanding electric mobility market.
Examining the half-year results up to September 2024, TVS Motor Company's performance remained robust. The total two-wheeler sales increased by 15%, recording 22.47 Lakh units, while three-wheeler sales slightly declined to 0.69 Lakh units from 0.78 Lakh units. Exports of two and three-wheelers collectively grew by 11%, reaching 5.62 Lakh units.
This period also saw a significant rise in total revenue, reaching Rs. 17,604 Crores, up by 15% from Rs. 15,363 Crores in the previous half-year. Profit Before Tax (PBT) for this half-year exhibited a 26% increase, standing at Rs. 1,680 Crores, and Profit After Tax (PAT) grew by 23%, amounting to Rs. 1,240 Crores.
Innovation Driving Growth
A pivotal moment for TVS Motor Company in the quarter ending September 2024 was the launch of the all-new TVS Jupiter 110. This model stands out for its unparalleled design, performance, comfort, and convenience, featuring many firsts and best-in-segment attributes.
The TVS Jupiter 110 has received a very positive response from customers, indicating not only the company's prowess in innovation but also its understanding of consumer needs and trends.
The company's Profit Before Tax (PBT) also showed considerable growth, increasing by 24% to Rs. 897 Crores in the second quarter of 2024-25, up from Rs. 724 Crores in the corresponding quarter of the previous year. Notably, this quarter's PBT includes a fair valuation gain of Rs. 23 Crores, although this was lower compared to the Rs. 38 Crores gain during the second quarter of last year.
TVS Motor Company's remarkable financial and sales performance in the quarter ending September 2024, alongside its successful launch of the all-new TVS Jupiter 110, demonstrates the company's robust growth trajectory and its strategic positioning to capitalize on both traditional and emerging market segments.
The considerable growth in its operating revenue, EBITDA, PBT, and sales across various segments, especially in the EV market, underscores the company's strong market presence and forward-looking approach.
Continue with Google