Chennai-headquartered two- and three-wheeler major TVS Motor Company has announced its financial results for Q1 FY2024 with revenue of Rs 7,218 crore, up 20 percent, compared to Rs 6,009 crore for the same period last year.
It recorded its highest-ever Operating EBITDA of Rs 764 crore with a growth of 27 percent, as against EBITDA of Rs 599 crore last year. The operating EBITDA came at 10.6 percent as against 10 percent a year ago.
In terms of profits, the company posted Rs 468 crore profit after tax (PAT), up 46 percent compared to Rs 321 crore for the same period last year.
Electric scooter sales in fast-track
The overall two-wheeler and three-wheeler sales including exports grew by 5 percent with wholesales of 9.53 lakh in Q1 FY2024 as against 9.07 lakh units a year ago.
The motorcycle sales came at 4.63 lakh units, up 7 percent YoY; scooter wholesales of 3.5 lakh units, up 11 percent YoY and three-wheeler sales of 35,000 units as against 46,000 units a year ago.
The electric scooter sales came at 39,000 units, versus 9,000 units a year ago. The company says the booking for TVS iQube continues to be healthy.
