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Total two-wheeler sales grew by 27% to 374,592 units in April 2024 from 294,786 units sold in April 2023. Domestic two-wheeler sales climbed 29% to 301,449 units in April 2024 as against 232,956 units sold in the same period a year ago.
Motorcycles registered sales of 188,110 units in April 2024 rising 24% from 152,365 units sold in April 2023. Scooter sales of the company reported 144,126 units in April 2024 as compared to 107,496 units in April 2023, recording a growth of 34%.
In the electric vehicle segment, the company sold 17,403 units in April 2024, surged 179.48% from 6,227 units sold in April 2023.
The company's total exports grew by 12% to 80,508 units in April 2024 as against 71,663 units in April 2023. Two-wheeler exports increased 18% to 73,143 units in April 2024 from 61,830 units sold in the similar period last year.
In the three-wheeler segment, the sales of the company reduced by 21.11% to 9,023 units in April 2024 from 11,438 units in April 2023.
TVS Motor Company is a reputed two and three-wheeler manufacturer globally. It has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. TVS Motor's group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Its subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland.
The company reported 59.11% jump in consolidated net profit to Rs 478.75 crore on 25.38% increase in revenue from operations to Rs 10,113.94 crore in Q3 FY24 over Q3 FY23.
The scrip rose 0.63% to currently trade at Rs 2,075 on the BSE.
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