TVS Motors' November EV Sales Skyrocket 57%; Shares Surge 2% On BSE

TVS motor company's shares jump 2 per cent on the BSE (Bombay Stock Exchange), after company announced monthly sales for November 2024, revealed 57 per cent jump in EV sales compared to corresponding month in previous year.

The stock touched a day high level of Rs 0.00 per share on the BSE (Bombay Stock Exchange), after hitting the opening bell at Rs 0.00 per share on the Indian exchanges.`

The shares of the TVS Motor Company were around Rs 2,477.15 per share on the Indian bourses with a surge of 1.75 per cent amounting to a Rs 42.70 per share on the dalal street.

November sales data

Sales of two-wheelers increased from 352,103 units in November 2023 to 392,473 units in November 2024, representing a 12 per cent growth in total sales. Domestic two-wheeler sales increased from 287,017 units in November 2023 to 305,323 units in November 2024, implicating 6 per cent growth.

Motorcycle sales increased from 172,836 units in November 2023 to 180,247 units in November 2024, showing a 4 per cent growth. Sales of scooters increased from 135,749 units in November 2023 to 165,535 units in November 2024, translating to a 22 per cent growth.

TVS Motor Company Q2 FY25

The highest-ever quarterly sales of two-wheelers and three-wheelers drove TVS Motor Company's consolidated net profit to rise 45 per cent to Rs 560.49 crore in the quarter ending September 2024 (Q2 FY25), the company announced last month. In Q2 FY24, the business reported a net profit of Rs 386.34 crore.

Operating revenue for the company increased by 14 per cent to Rs 11,301.68 crore in Q2FY25 from Rs 9,932.82 crore in the same period of FY24.

In comparison to the 1.074 million units sold in Q2FY24, the total sales of two-wheelers and three-wheelers, including exports, increased by 14 per cent to reach the highest-ever quarterly sales of 1.228 million units in Q2 FY25.