Chennai-based company TVS Motor's consolidated net profit in the second quarter of the current financial year 2024-25 has increased by 41.4 percent to Rs 588.13 crore. The company's net profit in the second quarter (July-September) of the last financial year 2023-24 was Rs 415.93 crore. In a notice to the stock market, TVS Motor said that its operating income in the quarter under review was Rs 11,301.68 crore. Whereas in the same quarter a year ago it was Rs 9,932.82 crore. Total expenditure increased to Rs 10,427.64 crore. Whereas in the same period a year ago it was Rs 9,297.34 crore.

Sold 14% more vehicles

TVS Motor said that in the second quarter, it sold a combined 12.28 lakh units of two-wheelers and three-wheelers, including exports, 14 percent more on an annual basis, which is the highest figure for any quarter. In the same period last year, the company had sold 10.74 lakh vehicles. During the quarter, the company's motorcycle sales grew 14 percent to 5.60 lakh units, compared to 4.93 lakh units in the same quarter a year ago. During this period, the company's scooter sales grew 17 percent from 4.20 lakh units to 4.90 lakh units.

Sale of electric vehicles increased by 31%

Exports of two-wheelers grew 16 percent to 2.78 lakh units in the period under review, as against 2.39 lakh units in the same quarter a year ago. The company said its total three-wheeler sales stood at 38,000 units in the quarter under review as against 43,000 units in the second quarter of 2023-24. Electric vehicle sales grew 31 percent to 75,000 units in the second quarter as against 58,000 units in the quarter ended September 30, 2023.