TVS Motor reported a strong operating and financial performance for the third quarter of FY26, with growth across revenue, profitability, margins, and vehicle sales volumes, based strictly on the numbers shared.
For Q3 FY26, operating revenue stood at Rs 12,476 crore, registering a 37% year-on-year increase. Operating EBITDA for the quarter came in at Rs 1,634 crore, up 51% YoY, while the EBITDA margin improved to 13.1%, compared with 12.4% in the year-ago quarter.
Profit before tax (before exceptional items) was reported at Rs 1,315 crore, marking a 57% year-on-year growth.
On the reported financials, revenue stood at Rs 14,755.52 crore in Q3 FY26, up 33.72% YoY and 5% QoQ. Net profit for the quarter came in at Rs 891.26 crore, compared with the year-ago period, reflecting a 46.35% YoY increase, while rising 6.99% sequentially. Earnings per share for the quarter stood at Rs 17.71, compared with Rs 11.82 in the corresponding quarter last year.
For the nine-month period, net profit stood at Rs 2,366.88 crore, compared with Rs 1,682.30 crore in the same period last year, translating into a 40.69% year-on-year increase.
Volume and sales performance
Total two-wheeler and three-wheeler sales for the quarter stood at 15.44 lakh units, up 27% YoY. Motorcycle sales were reported at 7.26 lakh units, marking a 31% YoY increase, while scooter sales stood at 6.14 lakh units, up 25% YoY. International two-wheeler sales were reported at 3.66 lakh units, reflecting a 35% YoY growth. Three-wheeler sales rose sharply to 0.60 lakh units, up 106% YoY. Electric vehicle sales stood at 1.06 lakh units, up 40% YoY, marking the highest-ever quarterly EV sales for the company.
Q3 FY26 financial snapshot
| Metric | Q3 FY26 | YoY change | QoQ change |
|---|---|---|---|
| Revenue | Rs 14,755.52 crore | +33.72% | +5% |
| Operating EBITDA | Rs 1,634 crore | +51% | — |
| EBITDA margin | 13.1% | +70 bps | — |
| PBT (before exceptional items) | Rs 1,315 crore | +57% | — |
| Net profit | Rs 891.26 crore | +46.35% | +6.99% |
| EPS | Rs 17.71 | — | — |
All figures are stated in Rs crore and lakh units, as applicable, and are based strictly on the data provided.
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