Automaker TVS Motors reported a net profit (consolidated net profit) of Rs 560.49 crore in the second quarter of the financial year 2024-25. There was an increase of 45.07% on an annual basis. The company had made a profit of Rs 386.34 crore in the same quarter a year ago.
TVS Motors’ consolidated operating revenue during the July-September quarter grew 13.78 per cent year-on-year to Rs 11,301.68 crore. The company’s revenue during the same quarter a year ago was Rs 9,932.82 crore. The amount received from the sale of goods and services is called income.
Total revenue grew 14% to Rs 11,334 crore
Talking about the total revenue in the second quarter, TVS Motors earned Rs 11333.99 crore. It increased by 13.52% on an annual basis. During the same quarter of the financial year 2023-24, the company had earned a total of Rs 9,983.75 crore.
TVS sold 12.30 lakh vehicles in Q2
TVS Motors sold a total of 12.30 lakh vehicles in the second quarter of the current financial year (Q2FY25). The company’s sales increased 14% on an annual basis. Apart from this, sales of electric vehicles increased by 31% on an annual basis and reached 75,000 units. TVS Motors’ total sales during the financial year 2023-24 stood at 41.91 lakh vehicles.
TVS Motors shares are up 45% this year
After the results, TVS Motors shares fell 3.18% to close at Rs 2,577 today (Friday, October 23). The company’s shares have generated negative returns of 3.87% over the past 5 days and 9.39% over one month.
At the same time, it increased by 31.99% in the last 6 months and 62.62% in one year. TVS Motors shares have returned 27.68% this year, i.e. from January 1, 2024 to date. The market capitalization of the company is Rs 1.22 lakh crore.
After the quarterly results, TVS Motors shares fell 3.18% to close at Rs 2,577 today (Friday, October 23).
TVS started with a bus service in 1911
TVS is a multinational bicycle manufacturing company. It is India’s third largest motorcycle manufacturer in terms of revenue. The company’s average annual sales exceed Rs 30 lakh.
However, its manufacturing capacity is over 40 lakh two-wheelers. TVS is also India’s second largest exporter. The company sells its cars in more than 60 countries.
The founder of TVS, TV Sundaram Iyengar, started with Madurai’s first bus service in 1911 and established a company named TVS in the transport sector, which had a large fleet of trucks and buses under the name of Southern Roadways.