TVS Motor Q3 Results: Revenue Up 10%, Profit Surges On EV Sales
Net profit of TVS Motor rose 4.23% YoY to Rs 618.48 crore, even as revenue increased 10.33% to Rs 9,097.05 crore.
TVS Motor Co. Ltd. clocked growth and improved its profitability in the fiscal third quarter as sales of its electric vehicles surged.
Standalone net profit of the Chennai-based automaker rose 4.23% year-on-year to Rs 618.48 crore in the three months ended Dec. 31, 2024, even as revenue increased 10.33% year-on-year to Rs 9,097.05 crore, according to an exchange filing on Tuesday.
TVS Motor Q3 FY25 Snapshot (Standalone, YoY)
Revenue up 10.33% at Rs 9,097.05 crore.
Ebitda up 16.98% at Rs 1,081.45 crore.
Ebitda margin up 67 bps at 11.88%.
Net profit up 4.23% at Rs 618.48 crore.
One basis point is one-hundredth of a percentage point.
During the quarter, TVS Motor invested a total of Rs 744.70 crore in its subsidiaries. That includes acquisition of 39.11% stake in DriveX Mobility Pvt., increasing the total equity shareholding to 87.38%. Separately, the company announced that its board of directors has approved a proposal to absorb subsidiary Sundaram Auto Components Ltd.
To be sure, the October-December quarter is the most lucrative for India's automakers for it includes a festive season—those 30-45 days alone bring in nearly a third of annual sales.
Wholesales and exports of the Apache maker rose 10.09% year-on-year to 12,11,952 units in the three months ended Dec. 31, 2024. While motorcycle sales rose 6% to 5.56 lakh units, scooter sales rose 22% at 4.93 lakh units.
What stood out, however, was the performance of the EV division. Sales of the iQube scooter surged 57% year-on-year to more than 76,000 units in October-December last year.
