TVS Motor Q1 Profit Up 6% to Rs 461 Crore | Business News

New Delhi, Aug 6 (PTI) TVS Motor Company on Tuesday said its consolidated net profit increased 6 per cent to Rs 461 crore for the first quarter ended June 30, 2024, riding on the back of robust sales.

The company had reported a net profit of Rs 434 crore in the April-June quarter of last fiscal.

Total income rose to Rs 10,448 crore for the period under review as compared to Rs 9,142 crore in the year-ago period, TVS Motor Company said in a regulatory filing.

On a standalone basis, the company posted a profit after tax of Rs 577 crore for the first quarter as compared to Rs 468 crore in the June quarter of the last fiscal, it added.

Total income rose to Rs 8,412 crore for the first quarter as against Rs 7,275 crore in the year-ago period.

The company said its overall two-wheeler and three-wheeler sales including exports grew 14 per cent year-on-year, registering sales of 10.87 lakh units in the quarter ended June 2024 as against 9.53 lakh units registered in the quarter ended June 2023.

Motorcycle sales grew by 11 per cent year on year at 5.14 lakh units in the first quarter as against 4.63 lakh units in the same period last fiscal.

Scooter sales grew by 19 per cent year-on-year to 4.18 lakh units in the April-June quarter this year.

Three-wheeler sales for the quarter under review stood at 31,000 units as against 35,000 units in the year-ago period, TVS said.

Electric scooter sales for the quarter ended June 30, 2024, stood at 52,000 units as compared to 39,000 units in the April-June quarter of last fiscal.

Shares of TVS Motor Company on Tuesday ended 0.75 per cent down at Rs 2,474.45 apiece on the BSE.