Tvs Motor Company: The company said its operating EBITDA grew 27% to INR 764 crore for the first quarter of 2023-24 as against EBITDA of INR 599 crore in the first quarter of 2022-23. Its operating EBITDA improved by 60bps at 10.6% as against 10.0% in the quarter ended June 2022.
The company has reported that the TVS iQube has been getting a healthy booking pipeline, and they are confident of enough to continue the improvement of supplies in the upcoming months.
As the chip shortage finally loosens its grip on the Indian automotive industry, sales of brands like Maruti Suzuki, Hyundai, Mahindra, TVS and more head northwards.