TVS Motor reports flat net profit at Rs 386.34 cr in Q2

New Delhi: TVS Motor Company on Monday reported flat consolidated net profit at Rs 386.34 crore for the second quarter ended September 30, even as its overall sales witnessed a 5 per cent year-on-year rise.

The company had reported a net profit of Rs 386.31 crore in the July-September period of last fiscal.

Its total income, however, rose to Rs 9,984 crore in the second quarter against Rs 8,591 crore in the year-ago period, TVS Motor Company said in a regulatory filing.

On a standalone basis, the company's net profit rose to Rs 537 crore from Rs 407 crore in the same quarter last fiscal, it added.

TVS said its overall two-wheeler and three-wheeler sales, including exports, grew by 5 per cent in the second quarter to 10.74 lakh units compared to 10.27 lakh units in the quarter ended September 2022.

Motorcycle sales increased 3 per cent to 4.93 lakh units in the period under review from 4.77 lakh units in the corresponding quarter of the last year.

Scooter sales for the September quarter rose 10 per cent to 4.2 lakh units against 3.83 lakh units in the same quarter last fiscal.

TVS said its total three-wheeler sales for the quarter under review stood at 43,000 units against 51,000 units in the second quarter of 2022-23.

Besides, the company recorded exports of 2.39 lakh two-wheeler units in the July-September quarter compared to 2.52 lakh units in the year-ago period.

Shares of TVS Motor Company on Monday ended 1.03 per cent up at Rs 1,609.70 apiece on the BSE.