TVS Motor Co.'s net profit rose in the fourth quarter of fiscal 2024, though it missed analysts' estimates.
Net profit of the Chennai-based automaker increased 18.31% year-on-year to Rs 485.43 crore in the January-March period, on the back of revenue that rose 23.68% to Rs 8,168.84 crore, according to an exchange filing on Wednesday.
Analysts polled by Bloomberg had estimated the top line at Rs 7,975 crore and the bottom line at Rs 530.40 crore.
TVS Motor Q4 FY24 Highlights (YoY)
Revenue up 23.68% to Rs 8,168.84 crore versus Rs 6,604.78 crore (Estimate: Rs 7,975 crore).
Ebitda up 36.25% to Rs 926.18 crore versus Rs 679.76 crore (Estimate: Rs 883 crore).
Ebitda margin expands 104 bps to 11.33% versus 10.29% (Estimate: 11.10%).
Net profit up 18.31% to Rs 485.43 crore versus Rs 410.27 crore (Estimate: Rs 530.40 crore).
Note: One basis point is one-hundredth a percentage point.
(This is a developing story).
Also Read: The Long Game: TVS Motor Rides On New Turf
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