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Q3 Results: TVS Motor Company continues its growth momentum
Mumbai: TVS Motor Company’s operating revenue grew by 26 per cent at Rs. 8,245 crores for the quarter ended December 2023 as against Rs 6,545 crores reported in the quarter ended December 2022.
The Company’s operating EBITDA grew by 40 per cent at Rs 924 crores for the third quarter of 2023-24 as against the EBITDA of Rs 659 crores in third quarter of 2022-23. The company’s operating EBITDA margin for the quarter is highest at 11.2 per cent as against the operating EBITDA margin of 10.1 per cent reported in the third quarter of 2022-23. The company’s profit before tax (PBT) grew by 63 per cent at Rs 775 crores for the third quarter of 2023-24 as against PBT of Rs 475 crores in third quarter of 2022-23. PBT for the quarter includes Rs 73 crores of other income relating to gains realised from investments. The company’s profit after tax (PAT) grew by 68 per cent at Rs 593 crores for the third quarter of 2023-24 as against PAT of Rs 353 crores in the third quarter of 2022-23.
The company reported total two-wheeler sales at 10.63 Lakh units in the current quarter as against 8.36 Lakh units in the quarter ended December 2022. Two-wheeler exports registered 2.16 Lakh units as against 2.07 Lakh units in December 2022. Total three-wheelers registered sales of 0.38 Lakh units in the quarter ended December 2023 as against 0.43 Lakh units in the quarter ended December 2022. 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.
Cumulative nine months results
Operating revenue reported for the nine months ended December 2023 is Rs 23,608 crores as against Rs 19,773 crores reported for the nine months ended December 2022.
The Company’s PBT grew by 45 per cent at Rs 2,109 crores for the nine months ended December 2023 as against Rs 1,457 crores during nine months ended December 2022 surpassing the PBT of FY 2022-23 of Rs 2,003 crores. The Company’s PAT grew by 48 per cent at Rs. 1,598 crores for the nine months ended December 2023 as against Rs. 1,081 crores during nine months ended December 2022.
The Company’s two-wheeler sales including exports grew by 13 per cent registering 30.13 Lakh units in the nine months ended December 2023 as against 26.74 Lakh units registered in the nine months ended December 2022. Motorcycle sales grew by 10 per cent registering 14.79 Lakh units in the nine months ended December 2023 as against 13.45 Lakh units in nine months ended December 2022. Scooter sales for the nine months ended December 2023 grew by 18 per cent registering 11.74 Lakh units as against the sales of 9.94 Lakh units in the nine months ended December 2022. The company recorded two-wheeler exports of 6.52 Lakh units in the nine months ended December 2023 as against 7.54 Lakh units in the nine months ended December 2022. Total three-wheeler sales are at 1.16 Lakh units for the nine months ended December 2023 as against 1.40 Lakh units during nine months ended December 2022. Electric vehicles registered sales of 1.44 Lakh units for the nine months ended December 2023 as against 0.54 Lakh units during the nine months ended December 2022.
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Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
