TVS Motor Company has reported a 40 per cent growth in profit after tax at ₹2,083 crore for FY24 compared with ₹1,491 crore.

Its revenue from operations grew by 20% at ₹R31,776 crore as against ₹26,378 crore recorded in 2022-23.

Operating EBITDA for the year improved by 100 bps to 11.1% over FY23. The PBT for the year ended March 2024 grew by 39% to ₹2,781 crore, compared to ₹2,003 crore reported during the previous year.

For the quarter ended March 31, 2024, the company’s PAT stood at ₹485 crore as against ₹410 crore. Its revenue from operations grew by 24% at ₹8,169 crore against ₹6,605 crore in the quarter ended March 2023.

Operating EBITDA for the quarter under review is higher at 11.3% as against 10.3% during the fourth quarter of last year. The company posted the highest ever Operating EBITDA of ₹926 crore for the fourth quarter with a growth of 36% as against ₹680 crore in the fourth quarter of 2022-23, according to a statement.

In a financial year, the company achieved record sales of over four million units. During the year ending March 2024, TVS Motor’s overall two—and three-wheeler sales grew by 14%, at 41.91 lakh units, against 36.82 lakh units in 2022-23.

Motorcycle sales during the fiscal year grew by 15% recording 19.90 lakh units as against 17.33 lakh units in the year ended March 2023. Scooter sales during the fiscal year grew by 18% at 15.70 lakh units as against 13.34 lakh units in the year ended March 2023. Electric vehicles grew by 101%, registering sales of 1.94 lakh units in the year 2023-24 as against 0.97 lakh units during 2022-23.