During the quarter, the company’s operating revenue grew by 13% to Rs 8,145 crore as against Rs 7,219 crore in Q2 of last year.

Operating EBITDA improved by 22% to Rs 900 crore in Q2 FY24 from Rs 737 crore in second quarter of 2023.

EBITDA margin for the quarter was at 11% as against EBITDA margin of 10.2% reported in the second quarter of 2022-23.

Profit before tax in Q2 FY24 stood at Rs 724 crore, up by 32% from Rs 549 crore in Q2 FY23.

The overall two-wheeler and three-wheeler sales including exports grew by 5% registering 10.74 lakh units in the quarter ended September 2023 as against 10.27 lakh units registered in the quarter ended September 2022.

Motorcycle sales grew by 3% registering 4.93 lakh units in the quarter ended September 2023 as against 4.77 lakh units in quarter ended September 2022. Scooter sales for the quarter ended September 2023 grew by 10% registering 4.20 lakh units as against the sales of 3.83 lakh units in the second quarter of 2022-23. The company recorded two-wheeler exports of 2.39 lakh units in the quarter ended September 2023 as against 2.52 lakh units in the quarter ended September 2022.

Total three-wheeler sales for the quarter under review was at 0.43 lakh units as against 0.51 lakh units during second quarter of 2022-23.

The company’s cumulative TVS iQube sales surpassed 2 lakh units. During the quarter under review, the company sold 0.58 lakh units as against 0.16 lakh units during quarter ended September 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 had advanced 1.03% to end at Rs 1609.70 on the BSE today.