TVS Motor's net profit zooms 15% to Rs 387 crore in Q4

TVS Motor reported a 15% rise in net profit to Rs 387 crore in Q4 FY24 due to strong sales. Revenue grew to Rs 10,042 crore. For the year, net profit increased to Rs 1,686 crore, with revenue reaching Rs 39,145 crore. The company achieved record revenue and profit in FY24 and sold over 40 lakh units for the first time.

TVS Motor Company on Wednesday said its consolidated net profit increased 15 per cent to Rs 387 crore for the fourth quarter ended March 2024, riding on robust sales.

The company had reported a net profit of Rs 336 crore in the January-March period of the previous fiscal.

Revenue from operations rose to Rs 10,042 crore in the period under review compared with Rs 8,031 crore in the fourth quarter of FY23.

In the fourth quarter, the company said its overall two-wheeler and three-wheeler sales, including exports, grew by 22 per cent to 10.63 lakh units compared to 8.68 lakh units in the same period of the 2022-23 fiscal.

For the year ended on March 31, 2024, the company posted a consolidated net profit of Rs 1,686 crore as against Rs 1,329 crore a year ago.

Revenue from operations rose to Rs 39,145 crore in FY24 over Rs 31,974 crore in the 2022-23 fiscal.

The company said it recorded its highest-ever revenue and profit in FY24.

TVS Motor also witnessed record sales of over 40 lakh units in a financial year.

During the year ended March 31, 2024, its overall two- and three-wheeler sales grew by 14 per cent to 41.91 lakh units as against 36.82 lakh units in the 2022-23 fiscal.

Shares of the company on Wednesday ended 1.29 per cent higher at Rs 2,006.15 apiece on the BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)