TVS Motor Company announced a 6% rise in consolidated net profit to ₹461 crore for Q1 FY24, up from ₹434 crore in the same period last year. The company’s total income for the quarter increased to ₹10,448 crore from ₹9,142 crore.
On a standalone basis, TVS posted a profit after tax of ₹577 crore, compared to ₹468 crore a year earlier, with total income rising to ₹8,412 crore from ₹7,275 crore.
The company’s overall two-wheeler and three-wheeler sales grew by 14% year-on-year, reaching 10.87 lakh units. Motorcycle sales rose by 11% to 5.14 lakh units, while scooter sales surged 19% to 4.18 lakh units. Three-wheeler sales fell to 31,000 units from 35,000 units last year. Electric scooter sales increased to 52,000 units from 39,000 units.
TVS Motor Company’s shares closed 0.75% lower at ₹2,474.45 on the BSE.
