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TVS Motor registers 20% growth in September 2024 sales; Q2 total sales at 12.28 lakh units

01-Oct-24 14:07 Hrs IST

Total two-wheelers sales increased by 22% to 471,792 units in September 2024 from 386,955 units in September 2023. Domestic two-wheeler sales added up to 369,138 units, up 23% YoY.

EV sales registered a growth of 42% with sales increasing from 20,356 units in September 2023 to 28,901 units in September 2024.

Three-wheeler registered sales of 10,703 units in September 2024 as against 15,598 units in September 2023, down 31% YoY.

The company's total exports registered a growth of 11% with sales increasing from 100,294 units in September 2023 to 111,007 units in September 2024.

For the second quarter of the financial year 2024-25, the company's two-wheeler sales and three-wheeler sales were 11.90 lakh units (up 15% YoY) and 0.38 lakh units (down 12% YoY). Total exports aggregated to 3.09 lakh units in Q2 FY25, up 11% YoY.

TVS Motor Company is a reputed two and three-wheeler manufacturer globally. It has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. TVS Motor's group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Its subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland.

The company reported 23.45% increase in standalone net profit to Rs 577.32 crore in Q1 FY25 as compared to Rs 467.67 crore posted in Q1 FY24. Revenue from operations rose 16.04% YoY to Rs 8,375.59 crore in the June 2024 quarter.

The scrip rose 0.20% to currently trade at Rs 2846.90 on the BSE.

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