TVS Motor Company Q2 results: Net profit rises 45% to Rs 560.49 cr

TVS Motor Company on Wednesday said its consolidated net profit increased 45 per cent to Rs 560.49 crore in the quarter ended September 2024 (Q2FY25) due to the highest-ever overall quarterly two-wheeler and three-wheeler sales. The company had reported a net profit of Rs 386.34 crore in Q2FY24.

 

The company's revenue from operations was seen up by 14 per cent to Rs 11,301.68 crore in Q2FY25, compared to Rs 9,932.82 crore during the same period of FY24.

 

The overall two-wheeler and three-wheeler sales, including exports, grew by 14 per cent, registering the highest-ever quarterly sales of 1.228 million units in Q2FY25 as against 1.074 million units recorded in Q2FY24.

 

"The ongoing festival season has started in a positive note and we expect to post a higher growth than the industry during the third quarter. We expect the industry to grow by 7-8 per cent during the third quarter," said K N Radhakrishnan, director and chief executive officer (CEO) of TVS Motor. 

 

Motorcycle sales grew by 14 per cent, registering 560,000 units in the second quarter of FY25 as against 493,000 units in the same period a year ago. Scooter sales for Q2FY25 grew by 17 per cent, registering 490,000 units as against the sales of 420,00 units in the second quarter of FY24.

 

Two-wheeler exports grew by 16 per cent, registering 278,000 units in Q2FY25 as against 239,000 units in the same quarter of FY24. Total three-wheeler sales for the quarter under review was at 38,000 units as against 43,000 units during the second quarter of FY24.

 

In Q2FY25, the company’s electric vehicle (EV) sales grew by 31 per cent, registering the highest-ever quarterly sales of 75,000 units as against 58,000 units during the same period of FY24. The company has started exporting EVs to certain markets like ASEAN.

 

"We are investing for future, electric vehicles, technology, and having capable people. We have a good product range and been growing steadily," Radhakrishnan said.

 

The total two-wheeler sales of the company for the half-year ended September 2024 (H1FY25) grew by 15 per cent, registering 2.247 million units as against 1.9.5 million units recorded in H1FY24. The total three-wheeler sales for H1FY25 stood at 69,000 units as against 78,000 units registered in H1FY24. The total export of two- and three-wheelers for the half-year ended September 2024 grew by 11 per cent to 562,000 units as against 504,000 units in the same period of the previous year.