Due to an increase in two-wheeler sales, Chennai-based TVS Motor Company (TVS), a significant player in the automotive industry, reported a 59% increase in net profit for the third quarter of the fiscal year to Rs 478.75 crore, up from Rs 300.89 crore during the October to December quarter of 2022–2023.

The company's operating revenue climbed by 25% to Rs 10,113.94 crore in the reviewed quarter, compared to Rs 8,066.13 crore in the third quarter of 2022–2023. In comparison to the third quarter of 2022–2023 Ebitda of Rs 659 crore, the Company's Operating Ebitda increased by 40% to Rs 924 crore in 2023–2024.

Compared to the Operating Ebitda margin of 10.1% recorded in the third quarter of 2022–2023 - the Company's Operating Ebitda margin for the quarter is the highest at 11.2%.

In the third quarter, the company recorded total sales of two-wheelers at 10.63 lakh units, up from 8.36 lakh units in the quarter that concluded in December 2022. In December 2022, there were 2.16 lakh two-wheeler exports, compared to 2.07 lakh units. 

Compared to 43,000 units in the quarter ending in December 2022, the total number of three-wheelers registered sales was 38,000 units in the quarter ending in December 2023. Compared to 29,000 units during the quarter ended December 2022, 48,000 electric vehicles were registered for sale in December 2023. The business said on Wednesday that it will launch new EV-related products.

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