TVS Motor's Q2 net profit climbs 32% to Rs. 537cr
TVS Motor Company has experienced a 32% surge in standalone net profit for the quarter ending September 30, 2024, reaching Rs. 537 crore. This increase is due to elevated sales, as the automaker recorded a net profit of Rs. 407 crore during the same timeframe last year. Moreover, revenue from operations climbed 13% to Rs. 8,144.61 crore in the mentioned quarter, up from Rs. 7,219.18 crore in the corresponding quarter of the previous financial year.
EBITDA and PBT also experience growth
The firm's operating EBITDA expanded by 22% to Rs. 900 crore for the second quarter of 2023-24, compared to Rs. 737 crore in the second quarter of 2022-23. TVS Motor's EBITDA margin for the quarter stands at 11.0%, an increase from 10.2% in the second quarter of the prior fiscal year. Additionally, the company's Profit Before Tax (PBT) rose by 32% to Rs. 724 crore, which encompasses other income of Rs. 37.5 crore related to fair valuation of current investments.
TVS shares close higher on BSE
Upon revealing TVS Motor's Q2 results, the company's shares closed 1% higher at Rs. 1,609.30 each on BSE today (October 30). The notable growth in net profit, revenue from operations, EBITDA, and PBT demonstrates TVS Motor Company's robust financial performance during this quarter.