The net profit was higher than an ET Now poll of Rs 512 crore, while the revenue was largely on expected lines. The two-wheeler makers operating profit, calculated as earnings before interest, taxes, depreciation, and amortisation (EBITDA), grew by 22% on year to Rs 900 crore. The EBITDA margin for the quarter was 11%, compared to 10.2% a year ago.
The company posted its highest-ever operating EBITDA at Rs 764 crore, with a growth of 27% for the first quarter. It was Rs 599 crore in the corresponding quarter of previous year.