TVS Motor Company Reports 6% Increase in Q1 Net Profit

TVS Motor Company reported a 6% increase in consolidated net profit to Rs 461 crore for the quarter ended June 30, 2024, driven by robust sales. Total income rose to Rs 10,448 crore, and the company's two-wheeler and three-wheeler sales grew 14% year-on-year.

TVS Motor Company on Tuesday announced a 6% rise in its consolidated net profit, reaching Rs 461 crore for the first quarter ended June 30, 2024, bolstered by strong sales figures.

The company had previously reported a net profit of Rs 434 crore in the same period last fiscal. Meanwhile, total income soared to Rs 10,448 crore from last year's Rs 9,142 crore, according to a regulatory filing by TVS Motor Company.

On a standalone basis, the firm's profit after tax was Rs 577 crore for the first quarter, up from Rs 468 crore in the previous year's corresponding period. Notably, overall two-wheeler and three-wheeler sales, including exports, climbed 14% year-on-year, totaling 10.87 lakh units compared to 9.53 lakh units sold in the same period in 2023. However, shares of TVS Motor Company ended 0.75% lower at Rs 2,474.45 apiece on the BSE on Tuesday.