The 46% year-on-year rise in net profit for the June 2023 quarter (Q1 FY24) reflects strong financial performance and profitability. Here are the key highlights:
- Net Profit Growth: TVS Motor Company’s net profit for Q1 FY24 increased by 46% compared to the same period in the previous fiscal year. The net profit rose to Rs 468 crore in Q1 FY24 from Rs 321 crore during the year-ago period.
This growth in net profit indicates that the company has been able to improve its operational efficiency, increase sales and revenue, or implement cost-cutting measures effectively.
TVS Motor said posted its highest ever operating EBITDA of Rs 764 crores with a growth of 27 per cent for the first quarter of 2023-24 as against EBITDA of Rs 599 crore in Q1 FY23. The company’s operating EBITDA improved by 60 basis points (bps) at 10.60 per cent in Q1 FY24 as against 10 per cent in the same period last year.
TVS Motor Company Ltd has a positive outlook, with an average target price of Rs 1,290, according to Trendlyne data. However, it also indicates that there might be a potential downside of just 1% based on the average target price.
