TVS Motor shares rise post July auto sales numbers

Motorcycle segment of the company registered sales growth of 2 percent at 153,942 unit and Scooter sales were up 5 percent at 1,21,941 units.

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TVS Motor Company shares were up 1.3 percent at Rs 1,388 in early trade on August 2 after the company reported better sales for July 2023.

TVS Motor Company registered a growth of 4 percent for July 2023 with sales at 3,25,977 units against 3,14,639 units in July 2022.

The company’s total two‐wheelers sales were up 4 percent at 312,307 units versus 2,99,658 units, YoY and domestic two‐wheeler sales were up 17 percent at 2,35,230 units against 2,01,942 units.

The company’s motorcycle segment of the company registered sales growth of 2 percent at 153,942 units. Scooter sales were up 5 percent at 1,21,941 units.

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Three‐wheeler segment sales were down for the month at 13,670 units against 14,981 units July 2022.

On the export front too the company’s performance was below par. It registered sales of 89,213 units during the month against 1,12,032 units in July 2022. Two‐wheeler exports stood at 77,077 units in July 2023 against 97,716 units.

In the quarter ended June 2023, the company had reported a 46 percent jump in net profit to Rs 468 crore and a 20 percent jump in revenue to Rs 7,218 crore.

During the first quarter, the company achieved its highest-ever operating EBITDA (earnings before interest, taxes, depreciation, and amortization) of Rs 764 crore, up 27 percent from Rs 599 crore last year.

The share touched a 52-week high of Rs 1,400.55 and a 52-week low of Rs 908.00 on 26 July, 2023 and 01 August, 2022, respectively.

The stock is trading 0.9 percent below its 52-week high and 52.86 percent above its 52-week low.

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