TVS Motor’s product mix, caution on EV discounts help retain edge

A better product mix and a judicious call on staying away from EV scooter discounting should fatten margins. The maker of Apache expanded its margins by 114 basis points on a year-on-year basis to 11.2% in the December quarter and its operating profit (Ebitda) per vehicle rose to a record high of ₹8,397. One basis point is 0.01 percentage point.

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