The logo of TVS Motor.
Credit: X/@tvsmotorcompany
New Delhi: Chennai-based TVS Motor Company on Wednesday reported a 41.4 per cent rise in consolidated net profit at Rs 588.13 crore in the second quarter ended September 30, 2024 riding on record sales.
The company had posted a net profit of Rs 415.93 crore in the same quarter last fiscal, TVS Motor Co said in a regulatory filing.
Revenue from operations in the second quarter stood at Rs 11,301.68 crore as against Rs 9,932.82 crore in the year-ago period, it added.
Total expenses in the quarter under review were higher at Rs 10,427.64 crore as compared to Rs 9,297.34 crore in the same period a year ago.
TVS Motor Co said it posted its highest-ever quarterly total sales of 12.28 lakh units of two and three-wheelers combined, including exports, in the second quarter, up 14 per cent as compared to 10.74 lakh units in the year-ago period.
Motorcycle sales grew by 14 per cent at 5.60 lakh units in the quarter as against 4.93 lakh units in the same period last fiscal. Scooter sales were up 17 per cent at 4.90 lakh units as against the sales of 4.20 lakh units in the second quarter of FY24, the company said.
Exports of two-wheeler exports grew by 16 per cent at 2.78 lakh units as against 2.39 lakh units in the year-ago quarter.
Total three-wheeler sales for the quarter under review stood at 38,000 units, down from 43,000 units during the second quarter of 2023-24, the company said.
Electric vehicle sales in the second quarter grew by 31 per cent at 75,000 units as against 58,000 units during the quarter ended September 30, 2023, it added.