TVS Motor records PAT of Rs 485 crore in Q4; Op. EBITDA margin at 11.3%

TVS Motor Company has reported 18% rise in standalone net profit to Rs 485 crore in Q4 FY24 from Rs 410 crore in Q4 FY23.

The companys revenue from operations in the quarter ended March 2024 grew by 24% at Rs 8,169 crore against Rs 6,605 crore in the quarter ended March 2023.

Operating EBITDA for the fourth quarter rose by 36% to Rs 926 crore from Rs 680 crore in fourth quarter of 2022-23. Operating EBITDA margin for Q4 FY24 was 11.3% as against 10.3% in Q4 FY23.

Profit before tax (PBT) in Q4 FY24 stood at Rs 672 crore, up by 23% from Rs 547 crore in Q4 FY23.

PBT for the current quarter includes fair valuation loss of Rs 47 crore as against gain of Rs 62 crore during the fourth quarter of last year.

During the financial year 2023-24, revenue from operations grew by 20% at Rs 31,776 crore as against Rs 26,378 crore recorded in 2022-23. PAT for the year ended March 2024 is at Rs 2,083 crore as compared to Rs 1,491 crore reported during the year ended March 2023.

The overall two-wheeler and three-wheeler sales including exports grew by 22% at 10.63 lakh units in the quarter ended March 2024 as against 8.68 lakh units registered in 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.

TVS Motor Company is a reputed two and three-wheeler manufacturer globally. It has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. TVS Motor's group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Its 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.

The scrip had advanced 2.74% to end at Rs 2061.15 on the BSE today.

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