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Total two-wheelers sales grew by 12% to 344,446 units in March 2024 from 307,559 units sold in March 2023. Domestic two-wheeler sales jumped 8% to 260,532 units in March 2024 as against 240,780 units sold in the same period a year ago.
Motorcycle registered sales of 171,611 units in March 2024 rising 22% from 141,250 units sold in March 2023. Scooter sales of the company reported 131,472 units in March 2024 as compared to the sale of 128,817 units in March 2023, recording a growth of 2%.
In the electric vehicle segment, the company sold 15,250 units in March 2024, marginally decreased from 15,364 units sold in March 2023.
The company's total exports grew by 23% to 91,972 units in March 2024 as against 75,037 units in March 2023. Two-wheeler exports jumped 26% to 83,914 units in March 2024 from 66,779 units sold in the similar period last year.
In the three-wheeler segment, the sales of the company grew by 6% to 10,146 units in March 2024 from 9,593 units in March 2023.
During the fourth quarter of the FY24, two-wheeler of the company registered a growth of 23% with sales increasing from 8.40 lakh units recorded in Q4 FY23 to 10.32 lakh units in Q4 FY24. Three-wheeler of the company registered a growth of 4% with sales increasing from 0.29 lakh units in the Q4 FY23 to 0.30 lakh units in Q4 FY24. Total exports grew by 40% with sales increasing from 1.85 lakh units posted in Q4 FY23 to 2.50 lakh units in the current quarter.
During the financial year 2023-24, the company registered a growth of 14% with total sales increasing from 36.82 lakh units in FY23 to 41.91 lakh units in FY24. Two-wheeler sales of the company registered a growth of 15% with sales increasing from 35.12 lakh units in FY23 to 40.45 lakh units in FY24. Three-wheeler of the company registered 1.46 lakh units in FY24 which is 13.60% lower than 1.69 lakh units recorded in FY23. Total exports fell 5.14% to 10.13 lakh units sales in FY24 as against 10.68 lakh units recorded in FY23.
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 shed 0.27% to Rs 2,134.40 on the BSE.
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