TVS Motor Company reported its June quarter results on August 6 afternoon.

What Happened: TVS Motors’ standalone net profit jumped 23% to ₹577.32 crore compared to ₹467.67 crore in the previous year. Its revenue from operations gained 16.03% year on year to ₹8,375.59 crore from ₹7217.9 crore in the previous year.

The company’s EBITDA increased 26% to ₹960 crore from ₹764 crore in the previous year. EBITDA margin improved to 11.5% from 10.6% in the previous year.

The results were mostly in line with analyst expectations of ₹577.2 crore net profit, ₹8,392.88 crore revenue and EBITDA margin of 11.32%.

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The company’s overall sales grew 14% to 10.87 lakh units in the quarter. Motorcycle sales grew by 11% to 5.14 lakh while scooter sales grew 19% to 4.18 lakh. Three-wheeler sales fell to 0.31 lakh from 0.35 lakh in the previous year. Electric scooter sales increased to 0.52 lakh against 0.39 lakh in the previous year.

The company had introduced new variants to the TVS iQube portfolio in the quarter. The electric scooter model is available in 2.2 kilowatt-hour, 3.4 kilowatt-hour and 5.1 kilowatt-hour variants, the company said in its press release.

Price Action: Shares of TVS Motors fell 1.32% to ₹2,460.40 after the results came out.

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