TVS Motor’s first quarter profit increased by 6 percent to Rs 461 crore

DELHI Delhi: TVS Motor Company on Tuesday said its consolidated net profit for the first quarter ended June 30, 2024 rose 6 per cent to Rs 461 crore, on the back of robust sales.The company had reported a net profit of Rs 434 crore in the April-June quarter of the previous fiscal.Total income for the period under review rose to Rs 10,448 crore as against Rs 9,142 crore in the same period a year ago, TVS Motor Company said in a regulatory filing.On a standalone basis, it reported a profit after tax of Rs 577 crore for the first quarter as against Rs 468 crore in the June quarter of the previous fiscal, the company said.Total income for the first quarter rose to Rs 8,412 crore as against Rs 7,275 crore in the same period a year ago.

The company said its total two-wheeler and three-wheeler sales, including exports, grew 14 per cent year-on-year to 10.87 lakh units in the quarter ended June 2024, as against 9.53 lakh units in the quarter ended June 2023. Motorcycle sales grew 11 per cent year-on-year to 5.14 lakh units in the first quarter as against 4.63 lakh units in the same period last fiscal. Scooter sales grew 19 per cent year-on-year to 4.18 lakh units in the April-June quarter this year. TVS said three-wheeler sales stood at 31,000 units in the quarter under review, as against 35,000 units in the same period a year ago. Electric scooter sales stood at 52,000 units in the quarter ended June 30, 2024, as against 39,000 units in the April-June quarter of the previous fiscal. On Tuesday, shares of TVS Motor Company closed 0.75 per cent lower at Rs 2,474.45 on the BSE