TVS Motors Stock Rallies 3% On Q1 Earnings
Company’s profit after tax (PAT) grows by 23 per cent at Rs 577 crore as against Rs 468 crore during the first quarter of 2023-24
The stocks of Tvs Motors climbed nearly 4 per cent in the Wednesday trading session after the two-wheeler manufacturer reported 16 per cent growth in the revenue from operations for the quarter ended 31 June 2024.
Tvs Motors stock traded at Rs 2,566 with 3.56 per cent gain in the morning session on the National Stock Exchange (NSE).
The firm’s revenue from operations in the quarter stood at Rs 8,376 crore, grew by 16 per cent as against Rs 7,218 crore in the quarter ended June 2023.
The company posted its highest ever operating earnings before interest, tax, depreciation and amortisation (EBITDA) of Rs 960 crore with a growth of 26 per cent for the first quarter against the EBITDA of Rs 764 crore in the first quarter of last financial year.
Profit before tax (PBT) stood at Rs 783 crore recording a growth of 28 per cent for the first quarter against Rs 610 crore in the first quarter of 2023-24.
During the current quarter, the company’s profit after tax (PAT) grew by 23 per cent at Rs 577 crore as against Rs 468 crore during the first quarter of 2023-24.
Sales
The overall two-wheeler and three-wheeler sales including exports grew by 14 per cent registering sales of 10.87 lakh units. Motorcycle sales grew by 11 per cent registering 5.14 Lakh units, while scooter sales for the quarter grew by 19 per cent at 4.18 lakh units.
Electric scooter sales for the quarter ended June 2024 is at 0.52 lakh units as against 0.39 lakh units in the quarter ended June 2023.
Stock Performance
In terms of stock performance, Tvs Motors stock grew more than 26 per cent in the year 2024 so far, whereas the sectoral index, Nifty Auto delivered 33 per cent year-to-date (YTD) return.
