Chennai TVS Motor Company’s consolidated net profit in the second quarter of the current financial year 2024-25 increased by 41.4 per cent to Rs 588.13 crore. The company’s net profit in the second quarter (July-September) of the last financial year 2023-24 was Rs 415.93 crore. TVS Motor informed the stock market that its operating income in the quarter under review amounted to Rs 11,301.68 crore. While in the same quarter a year ago it was Rs 9,932.82 million. The total expenditure increased to Rs 10,427.64 crore. While in the same period a year ago it was Rs 9,297.34 million.
Sold 14% more vehicles
TVS Motor said that in the second quarter it sold combined two-wheelers and three-wheelers including exports, up 14 per cent year-on-year to 12.28 lakh units, which is the highest in any quarter. In the same period last year, the company sold 10.74 lakh vehicles. The company’s motorcycle sales during the quarter rose 14 per cent to 5.60 lakh units as against 4.93 lakh units in the year-ago quarter. During this period, the company’s scooter sales increased by 17 per cent from 4.20 lakh units to 4.90 lakh units.
Electric vehicle sales increased by 31%
During the period under review, two-wheeler exports increased by 16 per cent to 2.78 lakh units, compared to 2.39 lakh units in the same quarter of the previous year. The company said its total three-wheeler sales in the quarter under review stood at 38,000 units, compared to 43,000 units in the second quarter of 2023-24. Electric vehicle sales rose 31 percent to 75,000 units in the second quarter, compared to 58,000 units in the quarter ending September 30, 2023.
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