TVS Motor Company, a leading two- and three-wheeler manufacturer has announced its financial results for Q3 and 9-month of FY2024.
In Q3 the revenue came at R 8,245 crore, up 26% as against Rs 6,545 crore for the same period last year. The net profit grew by 68% at Rs 593 crore, versus Rs 353 crore last year.
During the period the company sold 10.63 lakh two-wheelers and exported 2.16 lakh units. Three-wheeler sales came 38,000 units versus 43,000 units last year. Electric vehicles sales came at 48,000 units compared to 28,000 units last year.
For the 9-month period of FY2024, the company reported revenue of Rs 23,608 crore as against Rs 19,773 crore a yea ago. The net profit grew by 48% at Rs 1,598 crore compared to Rs 1,081 crore last year.
In terms of sales, TVS Motor Company’s two-wheeler volumes including exports grew by 13% registering 30.13 lakh units as against 26.74 lakh units for the same period last year.
This includes 14.79 lakh motorcycles, up 10 percent, 11.74 lakh scooters, up 18% YoY respectively. It exported 6.52 lakh two-wheelers as against 7.54 lakh units a year ago. On the three-wheeler front, the company sold 1.16 lakh units as against 1.40 lakh units last year.
Electric vehicles registered sales of 1.44 lakh units versus 54,000 units last year.
