TVS Motor Company records its highest ever operating EBITDA with a growth of 27% in Q1 of FY23-24
EBITDA for Q1 2023-24 highest at 10.6% and PBT of Rs. 610 Crs
Bengaluru, July 24, 2023: TVS Motor Company’s revenue from operations in the quarter ended June 2023 grew by 20% at Rs. 7,218 Crores as against Rs. 6,009 Crores in the quarter ended June 2022. The Company posted its highest ever Operating EBITDA of Rs. 764 Crores with a growth of 27% for the first quarter of 2023-24 as against EBITDA of Rs. 599 Crores in first quarter of 2022-23. Company’s operating EBITDA improved by 60bps at 10.6% as against 10.0% in the quarter ended June 2022.
The Company posted its highest ever Profit Before Tax (PBT) of Rs.610 Crores recording a growth of 41% for the first quarter of 2023-24 as against of Rs. 432 Crores in the first quarter of 2022-23. PBT for the quarter includes Rs. 55.6 Crores towards profit on sale of investments. During the current quarter, the Company’s Profit After Tax (PAT) grew by 46% at Rs. 468 Crores as against Rs. 321 Crores during first quarter of 2022-23.
Sales:
The overall two-wheeler and three-wheeler sales including exports grew by 5% registering sales of 9.53 Lakh units in the quarter ended June 2023 as against 9.07 Lakh units registered in the quarter ended June 2022. Motorcycle sales grew by 7% registering 4.63 Lakh units in the quarter ended June 2023 as against 4.34 Lakh units in quarter ended June 2022. Scooter sales for the quarter ended June 2023 grew by 11% at 3.50 Lakh units as against 3.15 Lakh units in the first quarter of 2022-23. Three-wheeler sales for the quarter under review is at 0.35 Lakh units as against 0.46 Lakh units during first quarter of 2022-23.
Electric Scooter sales for the quarter ended June 2023 is at 39,000 units as against 9,000 units in the quarter ended June 2022. The booking for TVS iQube continues to be healthy.
About TVS Motor Company
TVS Motor Company is a reputed two and three-wheeler manufacturer globally, championing progress through Sustainable Mobility with four state-of-the-art manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. We are the only two-wheeler company to have received 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 consecutive four 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. For more information, please visit www.tvsmotor.com .
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For more information, please contact:
KS Harini: ks.harini@tvsmotor.com
Prasant Ramakrishnan: prasant.ramakrishnan@tvsmotor.com