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Informist, Wednesday, Jan. 28, 2026

--TVS Motor Oct-Dec net profit INR 9.40 bln 

--Analysts saw TVS Motor Oct-Dec net profit at INR 10.25 bln 

--TVS Motor Oct-Dec revenue INR 124.76 bln 

--Analysts saw TVS Motor Oct-Dec revenue at INR 122.95 bln 

--TVS Motor Oct-Dec net profit INR 9.40 bln vs INR 6.18 bln year ago 

--TVS Motor Oct-Dec revenue INR 124.76 bln vs INR 90.97 bln year ago 

--TVS Motor Apr-Dec net profit INR 26.25 bln vs INR 18.58 bln year ago 

--TVS Motor Apr-Dec revenue INR 344.63 bln vs INR 267.01 bln year ago 

--TVS Motor Oct-Dec operating EBITDA margin 13.1% vs 11.9% year ago 

--TVS Motor Oct-Dec operating EBITDA INR 16.34 bln vs INR 10.81 bln year ago 

By P. Madhu Kumar

MUMBAI – TVS Motor Co. Ltd. clocked its fastest revenue growth in 14 quarters on a year-on-year basis in the December quarter, driven by a massive jump in sales across segments, buoyed by the full pass-through of the cut in the Goods and Services Tax. Its revenue for the December quarter surpassed analysts' expectations, though the bottom line missed estimates.

The company reported a net profit of INR 9.40 billion for the December quarter, up just over 52% on year and nearly 4% from the trailing quarter. The bottom line was significantly lower than analysts' estimate of INR 10.25 billion. Its top line rose over 37% on year and nearly 5% on a quarter-on-quarter basis to INR 124.76 billion in the reporting quarter. 

The Apache maker said its overall two-wheeler and three-wheeler sales, including international business, rose 27% on year to 1.54 million units in the December quarter, and this was also its highest ever quarterly sales. Its three-wheeler segment saw a two-fold jump on a year-on-year basis to 60,000 units in the December quarter. The company's electric vehicle despatches jumped 40% on year to 106,000 units in the reporting quarter.  

The operating earnings, before tax, depreciation, and amortisation came in at INR 16.34 billion, up 51% from INR 10.81 billion in the same quarter a year ago. TVS Motor's operating EBITDA margin for the quarter was 12.1%, up from 10.7% in the year-ago quarter. On a normalised basis, the operating EBITDA margin was 13.1%, up from 12.4% in the year-ago quarter. 

The company registered a net profit margin growth of 70 basis points at 7.5%. 

TVS Motor's total expenses in the reporting quarter rose over 35% on year to INR 111.34 billion. The company incurred most of its expenses towards input material costs, which rose nearly 31% on year to INR 82.91 billion. Its employee benefits expense stood at INR 6.19 billion, up 24% from INR 4.99 billion a year ago.   

For the nine months ended December, the company's net profit came in at INR 26.25 billion, up over 41% on year. Its top line for the same period was INR 344.63 billion, up 29% on year.

TVS Motor reported its December quarter earnings during market hours Wednesday. At 1524 IST, shares of the company traded nearly 5% higher at INR 3,741.50 on the National Stock Exchange.  End

Edited by Avishek Dutta

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