The TVS Motor Company, part of the TVS Group, is a two and three-wheeler manufacturer, reported a growth of 22% in June 2022 as compared to that of last year.
The sales of the company in June 2022 were 308,501 whereas in the June of the previous year the sales were reported to be 251,886.
Total two-wheelers registered a growth of 23% in June 2022 with sales increasing to 293,715 units in June 2022 from 238,092 units in June 2021. Even though the motorcycles remained the same at 146,075 units, scooter sales of the company grew to 105,211 units in June 2022.
In a statement by the TVS Motor Company, the said, "The shortage in the supply of semiconductors has impacted the production and sales of premium two-wheelers. We are working aggressively with alternate sources and taking every effort to improve supplies at the earliest. Some improvement has been seen this month. We are optimistic that volumes will revive to normal levels as semiconductor supplies continue to improve,"
The total exports increased by 8% to 114,449 units in June 2022 from the previous year’s to 106,246 units in June 2021. Whereas, Three-wheeler sales of the company grew by 7% to 14,786 units in June 2022 from 13,794 units in June 2021.
In the first quarter of 2022, two-wheeler sales grew by 39% increasing to 8.6 lakh units in the current quarter from 6.2 lakh units in the first quarter FY21-22.
Three-wheeler of the company registered a growth of 18% increasing from 0.39 lakh units in the first quarter of FY21-22 to 0.46 lakh units in the first quarter of this year.
On the other hand, the company reported a 5.1% decline in standalone net profit to Rs 274.50 crore for the quarter ended March 2022 as against Rs 289.24 crore in the quarter ended March 2021.
Revenue from operation stood at Rs 5,530.31crore in Q4 FY22 as against Rs 5321.93 crore posted in Q4 FY21, registering a growth of 3.9%.