TVS Motor Q1 Results: Net profit surges 23% to ₹577 crore, revenue up 16% YoY driven by motorcycle sales

TVS Motor Q1 Results: TVS Motor Company, the two and three-wheeler manufacturer, reported a sharp growth in its June quarter net profit with an uptick in operating margins. TVS Motor’s standalone net profit in the first quarter of FY25 increased 23.4% to ₹577.32 crore from ₹467.67 crore in the year-ago quarter.

The company’s revenue from operations in Q1FY25 grew 16% to ₹8,375.59 crore from ₹7,217.91 crore, year-on-year (YoY), driven by improved sales.

The overall two-wheeler and three-wheeler sales including exports grew by 14% registering sales of 10.87 lakh units in the quarter ended June 2024 as against 9.53 lakh units registered in the quarter ended June 2023.

TVS Motor Company’s operating profit or earnings before interest, tax, depreciation and amortization (EBITDA) in Q1FY25 rose 25.6% to ₹960.1 crore from ₹764 crore, while EBITDA margin improved by 90 bps to 11.5% from 10.6%, YoY.

During the quarter ended June 2024, the company’s motorcycle sales grew by 11% to 5.14 lakh units as against 4.63 lakh units in the year-ago period. Scooter sales rose by 19% to 4.18 lakh units from 3.50 lakh units, YoY.

Three-wheeler sales, however, declined to 0.31 lakh units as against 0.35 lakh units, YoY.

Electric Scooter sales for the June 2024 quarter increased to 0.52 lakh units from 0.39 lakh units in the year-ago quarter.

In Q1FY25, TVS Motor Company introduced new variants to TVS iQube portfolio. The TVS iQube series now offers an array of five variants available in vibrant 11 colours, it said.

At 2:25 pm, TVS Motor share price was trading 0.63% lower at ₹2,477.40 apiece on the BSE.

Read all Q1 results here