TVS Motor Co.'s net profit rose in the fourth quarter of fiscal 2024, though it missed analysts' estimates.
Net profit of the Chennai-based automaker increased 18.31% year-on-year to Rs 485.43 crore in the January-March period, on the back of revenue that rose 23.68% to Rs 8,168.84 crore, according to an exchange filing on Wednesday.
Analysts polled by Bloomberg had estimated the top line at Rs 7,975 crore and the bottom line at Rs 530.40 crore.
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TVS Motor Q4 FY24 Highlights (YoY)
Revenue up 23.68% to Rs 8,168.84 crore versus Rs 6,604.78 crore (Estimate: Rs 7,975 crore).
Ebitda up 36.25% to Rs 926.18 crore versus Rs 679.76 crore (Estimate: Rs 883 crore).
Ebitda margin expands 104 bps to 11.33% versus 10.29% (Estimate: 11.10%).
Net profit up 18.31% to Rs 485.43 crore versus Rs 410.27 crore (Estimate: Rs 530.40 crore).
Note: One basis point is one-hundredth a percentage point.
(This is a developing story).
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