Motorcycle registered sales of 148,049 units in December 2023, rising 19% from 124,705 units sold in December 2022. Scooter sales of the company reported 103,167 units in December 2023 as compared to the sale of 76,766 units in December 2022, recording a growth of 34%.

In the electric vehicle segment, the company sold 11,232 units in December 2023, rising 1.45% from 11,071 units sold in December 2022.

The company's total exports grew by 8% to 85,391 units in December 2023 as against 79,402 units in December 2022. Two-wheeler exports increased 13% to 75,076 units in December 2023 from 66,297 units sold in the similar period last year. The firm stated that markets in international business have shown positive growth and the momentum will further improve.

In the three-wheeler segment, the sales of the company reduced by 17.51% to 11,834 units in December 2023 from 14,346 units in December 2022.

During the third quarter of FY24, two-wheelers posted a robust growth of 27% with sales of 10.6 lakh units as against sales of 8.4 lakh units in the third quarter of FY 22- 23.

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 has recorded 32% growth in net profit to Rs 537 crore in Q2 FY24 from Rs 408 crore in Q2 FY23. During the quarter, the company’s operating revenue grew by 13% to Rs 8,145 crore as against Rs 7,219 crore in Q2 of last year.

Shares of TVS Motor Company fell 2.35% to currently trade at Rs 1,971.85 on the BSE.