TVS Motor Company on Friday said its consolidated profit rose 59% to Rs 373 crore in the second quarter ended September 2022, riding on the back of strong sales in the markets.
The company had reported a revenue of ₹ 234 million in the July-September period of the previous fiscal.
Income from operations rose to ₹ 8,561 crore in the second quarter against ₹ 6,483 crore a year earlier, TVS Motor Company said in a regulatory filing.
The company’s total two-wheeler and three-wheeler sales, including exports, grew by 12% in the September quarter at 10.27 lakh units compared to 9.17 lakh units in the second quarter last year.
“This was delivered despite challenges in international markets due to the economic slowdown and high inflation in some of the key markets,” the company said.
Although premium motorcycle sales improved in the first quarter, the full demand could not be met due to continued limited availability of semiconductors in the second quarter, it added.
“There was a month-on-month improvement in sales of premium motorcycles in Q2 and supply constraints are expected to ease further in Q3,” TVS Motor Company said.
Shares of the company on Friday ended 1.84% lower at ₹1,113.70 apiece on the BSE.