TVS Motor Co Accelerates with Record Q2 Profits and Sales Surge

TVS Motor Company reported a 41.4% increase in net profit for Q2 2024, totaling Rs 588.13 crore. The revenue rose to Rs 11,301.68 crore, driven by record sales of two-wheelers and electric vehicles. Motorcycle sales grew by 14%, scooters by 17%, and EVs by 31%.

Chennai-based TVS Motor Company has posted impressive financial results for the second quarter ending September 30, 2024. The firm achieved a 41.4 percent increase in consolidated net profit, amounting to Rs 588.13 crore, buoyed by unprecedented sales figures.

This marks a significant jump from the Rs 415.93 crore net profit recorded in the same quarter of the previous fiscal year. Revenue from operations saw a notable rise as well, standing at Rs 11,301.68 crore compared to Rs 9,932.82 crore in the year-ago period, the company revealed in a regulatory filing.

TVS Motor Co highlighted that it achieved its highest-ever quarterly sales with a total of 12.28 lakh units of two-wheelers and three-wheelers, including exports, representing a 14 percent increase from the prior year. Notably, electric vehicle sales soared by 31 percent, underscoring the company's expanding footprint in the EV market.

(With inputs from agencies.)