NEW DELHI: Chennai-based TVS Motor Company on Wednesday reported a 41.4% increase in consolidated net profit at Rs 588.13 crore in the second quarter ending September 30, 2024, riding on record sales.
The company had reported 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 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% 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% 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% 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 Q2FY24.