Profit before tax grew by 63% at Rs. 775 crore for the third quarter of FY24 as against PBT of Rs 475 crore in third quarter of FY23. It includes Rs 73 crore of other income relating to gains realised from investments.

During the quarter, EBITDA jumped 40% to Rs 924 crore from Rs 659 crore in Q3 FY23. EBITDA margin was 11.2% in Q3 FY24 as against 10.1% in Q3 FY23.

The company reported total two-wheeler sales at 10.63 Lakh units in Q3 FY24 as against 8.36 Lakh units in corresponding quarter last year. Two-wheeler exports registered 2.16 Lakh units in December 2023 as against 2.07 Lakh units in December 2022.

Total three-wheelers registered sales of 0.38 Lakh units in Q3 FY24 as against 0.43 Lakh units in Q3 FY23. Electric vehicles registered sales of 0.48 Lakh units in the quarter ended December 2023 as against 0.29 Lakh units during the quarter ended December 2022.

TVS Motor Company is a reputed two and three-wheeler manufacturer globally. It has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. TVS Motor's group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Its subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland.

The scrip rose 0.76% to settle at Rs 2,002.20 on Wednesday, 24 January 2024.