VMP Mumbai (Maharashtra)/ Kochi (Kerala) [India], April 10: Popular Vehicles Services Limited (PVSL), one of India's leading fully integrated automotive dealership players, has announced its... Financial results have been reported. 2023 Financial Highlights for the nine-month period ending December 31, 2023 * Total revenue grew 19.4% to Rs. Rs 4,274.7 crore for the nine-month period ending December 31, 2023. 3,581.6 crore for the nine month period ending December 31, 2022 * EBITDA increased by 23% to Rs. Rs 216.7 crore for the nine-month period ending December 3, 2023. 176.1 crore for the nine month period ending December 31, 2022 * Profit after tax increased by 12.5% ​​to Rs. From Rs 56 crore for the nine-month period ending December 31, 2023.Rs 49.7 crore for the nine-month period ending December 3, 2022 * EPS increased by 12.5% ​​to Rs 8.9 for the nine-month period ending December 31, 2023. 7.9 For the nine month period ending December 31, 2022 Financial Highlights for the quarter ending December 31, 2023 *Total revenue grew by 16.9% to Rs. Rs 1,426.5 crore for the quarter ending December 3, 2023. 1,220.4 crore for the quarter ending December 31, 2022 * EBITDA up 35.3% to Rs. Rs 70.8 crore for the quarter ending December 31, 2023. 52.3 crore for the quarter ending December 31, 2022 * Profit after tax increased by 50.2% to Rs. Rs 15.9 crore for the quarter ending December 3, 2023. QE 31 Dec 2022 Rs 10.6 Crore * EPS increased by 50.2% to Rs 2.5 for QE 31 Dec 2023 from Rs 1.7 Crore in QE 31 Dec 2022.On the announcement of financial results, Naveen Philip, Managing Director Popular Vehicles & Services, said: “We are pleased to announce Q3FY24 results following our successful listing on the stock exchanges of India. Building on the momentum gained in FY23, Popular Vehicles & Services Ltd. has continued to improve the margin trend (EBITDA%) for the 9 month period ended Dec.22 to 5.1% in Dec.23. Investors who want to join the Popular Vehicles & Services Ltd. family have joined, they are contributing to the resounding success of our IPO While we remain committed to exploring new avenues for growth and profitability, we reiterate our commitment to excellence in automotive dealerships and unparalleled customer satisfaction. With confidence in your ability to maintain the momentum, we are ready to chart a successful path forward.Popular Vehicles & Services Limited belongs to the diversified Kuttukara Group, which has been operating multi-brand automobile dealerships in Kerala, Tamil Nadu and Karnataka for the last 70 years and expanded operations to Maharashtra in FY23. It is one of the leading diversified automotive dealership company in the country. With presence across the automotive retail value chain, including sales and repairs of new passenger, commercial and electric two/three wheelers, spare parts distribution, sale of pre-owned passenger vehicles and after-sales facilities. Party financial and insurance products. It operates passenger vehicle dealerships of Maruti Suzuki Indi Limited.
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The group started its career in the electric vehicle sector in 1984 as one of the first batch of dealers appointed by Maruti Suzuki in India.Over the years, the scope of operations has expanded to four states. Their wide network includes 61 showrooms, 133 sales outlets and booking offices, 32 pre-owned vehicle showrooms and outlets, 13 authorized service centres, 43 retail outlets and 24 warehouses. These facilities are spread across 14 districts of Kerala, 8 districts of Karnataka, 1 district of Tamil Nadu and 9 districts of Maharashtra, demonstrating its strong presence in key markets of India.