TVS Motor Q2 profit improves 22% as company clocks highest-ever quarterly revenue

Mumbai: Company reported a 16 per cent growth in profit for the September quarter as it clocked its highest-ever quarterly revenue on the back of higher prices and improved exports.

Standalone profit for the quarter stood at Rs 278 crore compared to Rs 196 crore in the corresponding quarter last year. Revenue grew by 22 per cent to Rs 5,619 crore as against Rs 4,605 crore last year.

The Chennai-based automaker also posted its highest-ever earnings before interest, tax, depreciation and amortisation (EBITDA) at Rs 562 crore “despite various challenges in terms of increase in commodity costs, scarcity of containers for international business and shortage in semiconductors,” read a press statement.

EBITDA margin improved 70 basis points to 10 per cent. One basis point is 0.01 per cent.

The company sold 916,705 vehicles during the quarter. This translated to a realisation per unit of Rs 61,300 compared to Rs 53,069 in the year-ago period. This can be attributed to a 46 per cent growth in two-wheeler exports and a sharp increase in vehicle prices.

The stock of TVS Motor closed 0.44 per cent lower at Rs 576.55 on the BSE on Thursday.


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.