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TVS Motor sees sharp jump in profits as two-wheeler, EV sales climb
TVS Motor posted a solid December quarter as two-wheeler, export and EV sales lifted revenue, margins and profits year-on-year.
TVS Motor Company delivered a strong set of numbers for the quarter ended December 2025, driven by higher volumes across motorcycles, scooters, three-wheelers and electric vehicles, along with improved operating margins.
Notify meThe company’s operating revenue for the quarter rose 37% year-on-year to Rs. 12,476 crore, up from Rs. 9,097 crore in the same period last year. Operating EBITDA climbed 51% to Rs. 1,634 crore, compared with Rs. 1,081 crore a year earlier. EBITDA margin improved to 13.1%, the highest level reported by the company so far, compared with a normalised margin of 12.4% in the year-ago quarter. Profit before tax, excluding exceptional items, increased 57% to Rs. 1,315 crore, from Rs. 837 crore in the third quarter of 2024–25.
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Sales performance in the December quarter
On the volumes front, total two-wheeler and three-wheeler sales, including international markets, grew 27% year-on-year to a record 15.44 lakh units, up from 12.12 lakh units. Motorcycle sales rose 31% to 7.26 lakh units, compared with 5.56 lakh units last year. Scooter sales also saw healthy growth, up 25% to 6.14 lakh units, from 4.93 lakh units in the corresponding quarter.
International business continued to be a key growth driver, with two-wheeler exports increasing 35% to 3.66 lakh units, compared with 2.72 lakh units a year earlier. Three-wheeler sales more than doubled during the quarter, rising 106% to 0.60 lakh units from 0.29 lakh units in the same period last year.
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Electric vehicle momentum
Electric vehicles remained a bright spot. EV sales grew 40% year-on-year to 1.06 lakh units, marking the company’s highest-ever quarterly EV volume, compared with 0.76 lakh units in the quarter ended December 2024.
Nine-month sales snapshot
For the nine months ended December 2025, TVS Motor sold a total of 43.28 lakh two-wheelers and three-wheelers, including international operations, up 23% from 35.27 lakh units in the same period last year. Motorcycle volumes rose 24% to 20.19 lakh units, while scooter sales increased 25% to 17.52 lakh units. International two-wheeler sales grew 35% to 10.47 lakh units, while three-wheeler volumes stood at 1.59 lakh units, compared with 0.98 lakh units last year. Electric vehicle sales for the nine-month period rose 26% to 2.56 lakh units.
