TVS Motor Co. reported a 23.3% uptick in its net profit on a yearly basis for the first quarter of this financial year, in line with analysts' estimates.
The motorcycle manufacturer reported a bottom line of Rs 577 crore in the quarter-ended June, as compared with Rs 468 crore in the same quarter of the previous fiscal, according to its stock exchange notification. This compares with the Rs 562-crore analysts' estimate tracked by Bloomberg.
The company's revenue grew 16% year-on-year to Rs 8,376 crore. Analysts tracked by Bloomberg had pegged the top line at the same figure.
Operating income, or earnings before interest and tax depreciation and amortisation, rose 25.7% on a yearly basis to Rs 960 crore, while the Ebitda margin expanded to 11.5% from 10.6% in the corresponding quarter of the last fiscal. The analyst consensus estimates for Ebitda and Ebitda margin tracked by Bloomberg stood at Rs 947 crore and 48.8%, respectively.
During the quarter, the company introduced new variants to its iQube portfolio, underscoring the company's attempt in making electric vehicles accessible to the general public.
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