TVS Motor Q3 Results: Profit Surges 68%, Beats Estimates
Two-wheeler sales rose 27% to 10.6 lakh units in the quarter, while three-wheeler sales fell 12% to 38,000 units.
TVS Motor Co.'s standalone net profit rose in the third quarter of fiscal 2024, aided by higher sales.
The Chennai-based two-wheeler maker's profit increased 68% to Rs 593 crore in the quarter ended December, according to an exchange filing on Wednesday. That compares with the Rs 547-crore consensus estimate of analysts tracked by Bloomberg.
TVS Motor Q3 FY24 Earnings Highlights (Standalone, YoY)
Revenue rose 26% to Rs 8,245 crore (Bloomberg estimate: Rs 8,336 crore).
Ebitda grew 40% to Rs 924 crore (Bloomberg estimate: Rs 932.5 crore).
Ebitda margin at 11.2% versus 10.06% last year (Bloomberg estimate: 11.2%).
Two-wheeler sales rose 27% to 10.6 lakh units in the quarter, while three-wheeler sales fell 12% to 38,000 units.
Shares of TVS ended 0.76% higher at Rs 2,002.20 apiece before the results were announced, as compared with a 0.98% advance in the benchmark Sensex.
