TVS Motor Q1 profit rises 6% to Rs 461 crore

NEW DELHI: TVS Motor Company on Tuesday said its consolidated net profit increased 6% to Rs 461 crore for the first quarter ended June 30, 2024, riding on the back of robust sales.

It had posted a net profit of Rs 434 crore in the same quarter of last fiscal. The company’s total income rose to Rs 10,448 crore for the period under review as compared to Rs 9,142 crore in the year-ago period, TVS Motor Company said in a regulatory filing.

On a standalone basis, it posted a profit after tax of Rs 577 crore for the first quarter as compared to Rs 468 crore in the June quarter of the last fiscal, it added. Total income rose to Rs 8,412 crore for the first quarter as against Rs 7,275 crore in the year-ago period.

The company said its overall two-wheeler and three-wheeler sales including exports grew 14% year-on-year, registering sales of 10.87 lakh units in the quarter as against 9.53 lakh units registered in the quarter ended June 2023.