TVS Motor Co.’s shares were up more than 3% to Rs 2,649, despite the Chennai-based two-wheeler’s second-quarter results falling short of street forecasts. The reason for this is that brokerages have issued positive calls on the counter, predicting strong growth levers for the upcoming quarters.
TVS Motor recorded its highest-ever operating revenue of Rs 9,228 crore for the quarter ended September 2024, representing a 13 percent gain compared to Rs 8,145 crore in the same quarter of 2023. For the company, this quarter has been a quarter of new highs despite the shortfall. In the second quarter, the company reported its highest-ever profit after tax (PAT) of Rs 663 crore.
TVS Motors Q2 Result
In Q2, the company had its biggest profit after tax (PAT) ever, of ₹663 crore, which was less than the ₹703 crore predicted by the CNBC-TV18 survey. In comparison to the same quarter last year, the profit has increased by 23.4%.
EBITDA (earnings before interest, taxes, depreciation, and amortization) for the two-wheeler manufacturer increased 20% year over year to ₹1,079.8 crore for the reviewed quarter. Despite being the largest operating EBITDA ever, it fell short of the ₹900 crore expectations set by the survey.
