TVS Motor Q4 Results: Net Profit Jumps 75%, Revenue Up 17% On EV Sales

TVS Motor Co. has clocked its highest quarterly profit in at least a decade as electric vehicle sales boosted earnings.

Standalone net profit of the iQube maker rose 75.74% over the year-ago period to Rs 853.12 crore in the three months ended March 31, 2025, on the back of revenue that increased 16.91% to Rs 9,550.44 crore, according to an exchange filing on Monday.

Analysts polled by Bloomberg had estimated the top line at Rs 9,283 crore and the bottom line at Rs 731 crore.

• Revenue up 16.91% at Rs 9,550.44 crore (Estimate: Rs 9,283 crore).

• Ebitda up 44.42% at Rs 1,332.63 crore (Estimate: Rs 1,169 crore).

• Ebitda margin up 265 basis points at 13.95% (Estimate: 12.6%).

• Net profit up 75.74% at Rs 853.12 crore (Estimate: Rs 731 crore).

One basis point is one-hundredth of a percentage point.

The quarterly figures include a one-time gain by way of production-linked incentives received for the fiscal year ended March 31, 2025.

For the full fiscal, the Chennai-based automaker clocked its highest ever revenue of Rs 36,251 crore—up 14% year-on-year—even as net profit increased 30% to Rs 2,711 crore, according to the exchange filing.

TVS Motor's quarterly results came on the back higher EV sales.

The company shipped 76,000 electric scooters in January-March as against 49,000 units in the year-ago period, registering a growth of 54% year-on-year. Total two-wheeler sales, including exports, rose 14% year-on-year to 12.16 lakh units even as three-wheeler sales grew 21% to 37,000 units.

For the full year, EV sales surged 44% year-on-year to 2.79 lakh units, two-wheeler sales rose 13% to 47.44 lakh units, but three-wheeler sales fell 7.5% to 1.35 lakh units.

On Monday, TVS Motor shares rose 2.48% to Rs 2,803.55 apiece on the BSE even as the benchmark S&P Sensex ended the day 1.27% higher at 80,218.37 points.