Strong sales of motorcycles and scooters in Q1FY23 has enabled TVS Motor to close the quarter at an operating revenue of INR 6,009 crore against revenue of INR 3,934 crore it had reported during the corresponding period last fiscal.
The company sold 4.34 lakh units of motorcycles in Q1FY23 as against 4.05 lakh units in the corresponding quarter last fiscal. In the same quarter, the manufacturer’s scooter sales stood at 3.06 lakh units as against the sales of 1.38 lakh units in Q1FY22.
A release issued by the company also stated that its EBITDA margin for the quarter is at 10% as against the EBITDA margin of 7% reported during Q1FY22. The Profit Before Tax (PBT) for Q1FY23 stood at INR 432 crore as against INR 102 crore in Q1FY22. The company reported Profit After Tax (PAT) of INR 321 crore as against INR 53 crore in the same period last fiscal.
From an exports perspective, TVS recorded the highest two-wheeler exports in this quarter registering 2.96 lakh units as against 2.90 lakh units in Q1FY22. Its electric scooter (iQube) sales registered 0.09 lakh units in Q1FY23 as against 0.01 lakh units in Q1FY22, stated the company.
It must be noted that the company had launched the new TVS iQube electric scooter during the last quarter in three variants equipped with a range of 140 km on a single charge. TVS also launched the new TVS NTORQ XT, equipped with the industry’s first Hybrid TFT console and TVS SmartXonnect.