TVS Motor Q3 results: Net profit rises 20% to Rs 609 crore on higher sales

Chennai-based two-wheeler major TVS Motor Company has posted a 20 per cent rise in net profit during the third quarter of the current financial year ended December 31 to Rs 609.35 crore, up from Rs 509.61 crore in the corresponding quarter last year. The rise in profit was driven by a 10 per cent growth in cumulative sales of two-wheelers and three-wheelers and robust growth in electric vehicles (EVs).

 

During the October–December quarter of FY25, the company’s consolidated revenue grew by 10 per cent year-on-year to Rs 11,135 crore, up from Rs 10,114 crore during the third quarter of the previous financial year. The company said in an investor call that it has achieved the highest-ever operating EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin of 11.9 per cent during the quarter under review, marking a 70 basis points improvement over the same period last year. The company's total expenses during the quarter under review were higher at Rs 10,273 crore compared to Rs 9,363 crore in the same period a year ago.

 

The overall two-wheeler and three-wheeler sales, including exports, grew by 10 per cent, registering 1.212 million units in the quarter ended December 2024 as against 1.101 million units in the quarter ended December 2023. Motorcycle sales grew by 6 per cent, registering 556,000 units in the quarter ended December 2024 as against 523,000 units in the quarter ended December 2023. Scooter sales for the quarter ended December 2024 grew by 22 per cent to 493,000 units as against 404,000 units in the third quarter of 2023-24.

 

Three-wheeler sales for the quarter under review stood at 29,000 units as against 38,000 units during the third quarter of 2023-24. Electric scooter sales for the quarter ended December 2024 grew by 57 per cent to 76,000 units as against 48,000 units in the quarter ended December 2023.