TVS Motor Q4 results: Net profit up 18% ₹485 crore, revenue surges 24%

In the quarter ending March 2024, TVS Motor company saw a 24% increase in revenue from operations, reaching ₹8,169 crores compared to ₹6,605 crores in the corresponding quarter of March 2023.

Also read: Q4 Results: Tata Power posts 15% jump in profit on robust demand, declares final dividend of ₹2 per share

The shares of TVS Motor ended Wednesday’s trading session in green, surged over 2% to close at ₹2,022.45 per share, against previous close at ₹1,979.60.

Here are four key highlights from TVS Motor’s Q4 FY24 results –

Recorded highest ever revenue and profit

The company witnessed an 18 percent year-on-year (YoY) rise in its standalone net profit, reaching ₹485 crore compared to ₹410 crore reported in the corresponding period of the previous year.

For the quarter ending March 2024, TVS Motor Company experienced a 24% surge in revenue from operations, reaching ₹8,169 Crores compared to ₹6,605 Crores in the corresponding quarter of March 2023.

EBITDA for Q4 2023-24 improved

The operating EBITDA for the year showed a 100 basis points improvement, reaching 11.1% compared to the previous year. Profit Before Tax (PBT) for the fiscal year ending in March 2024 increased by 39 per cent to ₹2,781 Crores, compared to ₹2,003 crore reported in the preceding year. 

Also read: Bharat Forge Q4 results: Stock surges 16% after net profit jumps 78%, declares dividend of ₹6.50

Similarly, Profit After Tax (PAT) for the year ending in March 2024 stood at ₹2,083 crore, marking a rise from ₹1,491 crores reported in the fiscal year ending March 2023.

Operating EBITDA for the quarter under review is higher at 11.3 per cent as against 10.3 per cent during fourth quarter of last year. The company posted highest ever operating EBITDA of ₹926 crore for the fourth quarter with a growth of 36 per cent as against ₹680 crore in fourth quarter of 2022-23.

EV sales registered 100% growth at 1.94 lakh units

Electric vehicles grew by 101 per cent registering sales of 1.94 lakh units in the year 2023-24 as against 0.97 lakh units during 2022-23. Cumulatively, TVS Motor has more than three lakh EV customers. Three-wheeler sales for the fiscal year is at 1.46 lakh units in the year ended March 2024 as against 1.69 lakh units in the year ended March 2023.

In terms of quarter-to-quarter, electric vehicles grew by 15 per cent registering sales of 0.49 lakh units in the quarter ended March 2024 as against 0.43 lakh units during the quarter ended March 2023. Three-wheeler sales for the quarter under review grew by 4% registering 0.30 lakh units as against 0.29 Lakh units in the fourth quarter of 2022-23.

Also read: L&T Q4 Results: Net profit rises 10% to ₹4,396 crore; dividend declared; 5 key highlights

Overall sales surged to 4 million units for FY 2023-24

The company achieved record sales of over 4 million units in a financial year. During the year ended March 2024, the overall two and and three-wheeler sales of TVS Motor company, grew by 14 per cent at 41.91 lakh units as against 36.82 lakh units in the year 2022-23. 

Motorcycles sales during the fiscal year grew by 15 per cent recording 19.90 lakh units as against 17.33 lakh unit in the year ended March 2023. Scooter sales during the fiscal year grew by 18 per cent at 15.70 lakh units as against 13.34 lakh units in the year ended March 2023.

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Published: 08 May 2024, 05:16 PM IST