Early on April 2, shares of TVS Motor Company experienced a marginal decline after the company announced a robust 12% growth in its sales for March 2024, compared to the same period last year.
At 9:26 AM, TVS Motor Company was trading at Rs 2,125.10 on the BSE, down Rs 15.00 or 0.70 percent.
The company’s total two-wheeler sales surged by 12% to 3,44,446 units from 3,07,559 units, with domestic two-wheeler sales witnessing an 8% increase to 260,532 units in March 2024.
In the motorcycle segment, sales grew by 22%, reaching 171,611 units compared to 141,250 units in March 2023, while scooter sales saw a modest 2% rise to 131,472 units.
TVS Motor Company’s Electric Vehicle segment recorded sales of 15,250 units in March 2024, slightly down from 15,364 units in March 2023.
On the exports front, the company reported a remarkable 23% growth, with sales increasing from 75,037 units in March 2023 to 91,972 units in March 2024. Similarly, two-wheeler exports surged by 26% to 83,914 units in March 2024.
Three-wheeler sales also saw a 6% growth, rising from 9,593 units in March 2023 to 10,146 units in March 2024.
Throughout the financial year 2023-24, TVS Motor Company achieved a commendable 14% growth, with total sales climbing from 36.82 lakh units in FY 2022-23 to 41.91 lakh units.
In Q4 FY2023-24, two-wheeler sales witnessed a 23% growth, three-wheeler sales grew by 4%, and total exports surged by 40%.
