TVS Motor Company's total sales rose by 13% in July 2022 with sales of 314,639 units as against 278,855 units in the month of July 2021.
Total two-wheelers registered a growth of 14% in July 2022 with sales increasing from 262,728 units in July 2021 to 299,658 units in July 2022.
While domestic two-wheeler sales increased by 15% to 201,942 units, exports grew by 12% to 97,716 units in July 2022 as compared with July 2021.
Three-wheeler of the Company registered sales of 14,981 units in July 2022 as against sales of 16,127 units in July 2021.
The company's total exports grew by 9% from 103,133 units in July 2021 to 112,032 units in July 2022.
The company said that its electric vehicle TVS iQube Electric has received a very good response from customers and the future demand outlook is very positive. Efforts on increasing the capacity and delivery are showing results, and against a monthly average sale of 2,908 units in Q1 2022, the company sold 6,304 units of TVS iQube Electric in July 2022.
"The company has invested in strategic relationships and action plans for the supply of semiconductors and the efforts are yielding results with improvements seen this month as well. We are very confident of the supplies improving further, TVS Motors said in a statement.
TVS Motor Company is a reputed two and three-wheeler manufacturer globally. The company has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia.
The company reported a standalone net profit of Rs 321 crore in Q1 FY23 as against a net profit of Rs 53 crore in Q1 FY22. Operating revenue was Rs 6,009 crore in the quarter ended June 2022 as against Rs 3,934 crore reported in the quarter ended June 2021, up 52.7% YoY.
The scrip rose 0.72% to currently trade at Rs 934 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
