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The overall sales of the 2-wheeler manufacturer increased by 2% in November 2022 with sales of 277,123 units against 272,693 units in the month of November 2021.
Total two-wheeler sales grew by 2% to 263,642 units in November 2022 compared to 257,863 units sold in November 2021. time last year.
Motorcycle sales increased by 4% to 145,006 units in November 2022 against 140,097 units sold in November 2021. per year.
TVS iQube Electric scooters recorded sales of 10,056 units last month against sales of 699 units in November 2021. The sales spurt was supported by strong order books and increased acceptance towards electric mobility, the company said in a filing.
The company’s total exports decreased by 12.36% to 84,134 units in November 2022 compared to 96,000 units in November 2021. Two-wheeler exports declined by 12.22% to 71,912 units in November 2022 from 81,923 units last year.
In the three-wheeler segment, the company’s sales declined by 9.1% to 13,481 units in November 2022 from 14,830 units in November 2021.
TVS Motor Company is famous as two and three wheeler manufacturer worldwide. The company has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia.
On a consolidated basis, the company’s net profit jumped by 59.5% to Rs 386.31 million on a 32% increase in sales at Rs 8,560.76 million in Q2 FY23 over Q2 FY22.
The scrip was up 0.36% at Rs 1050 on the BSE.
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(This story has not been edited by Business Standards staff and is automatically generated from an aggregated feed.)
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