TVS Motor Company Continues its Growth Momentum

TVS Motor Company’s operating revenue grew by 26% at Rs. 8,245 Crores for the quarter ended December 2023 as against Rs. 6,545 Crores reported in the quarter ended December 2022.

The Company’s Operating EBITDA grew by 40% at Rs. 924 Crores for the third quarter of 2023-24 as against EBITDA of Rs. 659 Crores in third quarter of 2022-23. The Company’s Operating EBITDA margin for the quarter is highest at 11.2% as against Operating EBITDA margin of 10.1% reported in the third quarter of 2022-23. The Company’s Profit Before Tax (PBT) grew by 63% at Rs. 775 Crores for the third quarter of 2023-24 as against PBT of Rs. 475 Crores in third quarter of 2022-23. PBT for the quarter includes Rs. 73 Crores of Other Income relating to gains realised from investments. The Company’s Profit After Tax (PAT) grew by 68% at Rs. 593 Crores for the third quarter of 2023-24 as against PAT of Rs. 353 Crores in third quarter of 2022-23.

The Company reported total two-wheeler sales at 10.63 Lakh units in the current quarter as against 8.36 Lakh units in the quarter ended December 2022. Two-wheeler exports registered 2.16 Lakh units as against 2.07 Lakh units in December 2022. Total three-wheelers registered sales of 0.38 Lakh units in the quarter ended December 2023 as against 0.43 Lakh units in the quarter ended December 2022. Electric vehicles registered sales of 0.48 Lakh units in the quarter ended December 2023 as against 0.29 Lakh units during the quarter ended December 2022.

Cumulative nine months results

Operating revenue reported for the nine months ended December 2023 is Rs. 23,608 Crores as against Rs. 19,773 Crores reported for the nine months ended December 2022.

The Company’s PBT grew by 45% at Rs. 2,109 Crores for the nine months ended December 2023 as against Rs. 1,457 Crores during nine months ended December 2022 surpassing the PBT of FY 2022-23 of Rs. 2,003 Crores. The Company’s PAT grew by 48% at Rs. 1,598 Crores for the nine months ended December 2023 as against Rs. 1,081 Crores during nine months ended December 2022.

The Company’s two-wheeler sales including exports grew by 13% registering 30.13 Lakh units in the nine months ended December 2023 as against 26.74 Lakh units registered in the nine months ended December 2022. Motorcycle sales grew by 10% registering 14.79 Lakh units in the nine months ended December 2023 as against 13.45 Lakh units in nine months ended December 2022. Scooter sales for the nine months ended December 2023 grew by 18% registering 11.74 Lakh units as against the sales of 9.94 Lakh units in the nine months ended December 2022. The Company recorded two-wheeler exports of 6.52 Lakh units in the nine months ended December 2023 as against 7.54 Lakh units in the nine months ended December 2022. Total three-wheeler sales are at 1.16 Lakh units for the nine months ended December 2023 as against 1.40 Lakh units during nine months ended December 2022. Electric vehicles registered sales of 1.44 Lakh units for the nine months ended December 2023 as against 0.54 Lakh units during the nine months ended December 2022.

About TVS Motor Company

TVS Motor Company (BSE:532343 and NSE: TVSMOTOR) is a reputed two and three-wheeler manufacturer globally, championing progress through sustainable mobility with four state-of-the-art manufacturing facilities located in India and Indonesia. Rooted in our 100-year legacy of trust, value, and passion for customers, it takes pride in making internationally accepted products of the highest quality through innovative and sustainable processes. TVS Motor is the only two-wheeler company to have won the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for four consecutive years. Our group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our 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. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate.

For more information, please visit www.tvsmotor.com.