Auto player TVS Motor Company Ltd announced a remarkable 42.2% year-on-year (YoY) growth in its consolidated net profit for the Q1FY24 ending in June, reaching ₹434.30 crore. In comparison, the company had recorded a profit of ₹305.37 crore during the same period the previous year. Sequentially, the consolidated net profit witnessed a 29.2% increase from ₹336.10 crore in Q4FY23.
During the quarter ended June, the company’s consolidated total revenue from operations experienced a substantial rise of 23.8% YoY, reaching ₹9,055.51 crores compared to ₹7,315.70 crore in Q1FY23. The total income for the first quarter stood at ₹9,142.05 crore, up from ₹7,347.83 crore in the corresponding period last year.
On the standalone front, for the quarter ended June, the company reported a significant 46% YoY jump in net profit, amounting to ₹467.67 crore, compared to ₹320.54 crore in Q1FY23. The total revenue from operations for the same period rose by 20% to ₹7,217.91 crore.
In addition to the impressive profit and revenue figures, the company achieved its highest-ever Operating EBITDA of ₹764 crores for the first quarter of 2023-24, marking a notable 27% increase over the first quarter of 2022-23. The Operating EBITDA for the company also improved by 60 basis points, rising from 10.0% in the quarter ending June 2022 to 10.6% in the current period.
The stock had a decent run in the last 12 months. It gained almost 60%.