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HomeMarket NewsTVS Motor Q2 Results: Volumes, product mix aid revenue growth; Management commentary awaited
Volumes rose 23% YoY and 18% QoQ, while average selling price (ASP) was up 5% YoY and remained flat sequentially.
By Meghna Sen October 28, 2025, 3:10:22 PM IST (Published)
TVS Motor Company Ltd. posted earnings broadly in line with expectations for the September quarter, driven by strong volume growth and a superior product mix.
Net profit rose 37% year-on-year to ₹906 crore from ₹663 crore, compared with the CNBC-TV18 poll estimate of ₹953 crore.
Revenue grew 29% to ₹11,905 crore as against ₹9,228 crore a year ago. The figure was higher than our poll of ₹11,758 crore).
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased 40% to ₹1,508 crore as against ₹1,080 crore, while margins improved to 12.7% from 11.7%.
Volumes rose 23% YoY and 18% QoQ, while average selling price (ASP) was up 5% YoY and remained flat sequentially.
Here are the key things to watch out for
- Festive demand trends and FY26 outlook
- Progress on e-mobility initiatives and demand traction
- Incremental investments in subsidiaries
- Export ramp-up in new markets
