TVS Motor Drives Profits with Electric Sales Surge

TVS Motor Company reported a 20% rise in net profit for the December quarter, driven by strong sales, including a 57% increase in electric scooter sales. Revenue rose to Rs 11,134.63 crore, with significant growth in two-wheeler and three-wheeler sales.

In a robust performance for the December quarter, TVS Motor Company announced a 20 percent boost in its consolidated net profit, reaching Rs 609.35 crore. This growth has been spurred largely by soaring sales figures.

Compared to the same quarter last fiscal year, the company's profit showed a significant rise from Rs 509.61 crore, as noted in their regulatory filings. Revenue from operations in the third quarter scaled up to Rs 11,134.63 crore against Rs 10,113.94 crore.

Expenses for the period were also higher, tallying Rs 10,272.62 crore. Notably, electric scooter sales surged by 57 percent, marking a promising shift towards sustainable transportation. This was a standout factor contributing to the company's overall sales growth, which climbed by 10 percent.

(With inputs from agencies.)