Hosur-based two-wheeler manufacturer, TVS Motor, is having a good run in the Indian market as it registered a 6.7 per cent jump in its profits in the last quarter. The company’s two-wheeler division saw its standalone profit increase to Rs 94.81 crore in the second quarter of this financial year, as compared to Rs 88.84 crore it managed during the corresponding period, last year.
TVS Motor also registered an increase of 34.9 per cent in its net income for the previous quarter. Driven by the increasing demand for its scooter, the company’s overall sales also rose by 29 per cent. The company sold 6.48 lakh units in the July to September quarter of 2014, up from 4.79 lakh units it managed in the last year. The company’s commercial three-wheeler division also showed a 24 per cent increase.
Not just the domestic market, but its other global markets have also been showing signs of improved demand. TVS Motor shipped off 1.03 lakh vehicles to its other global markets in the last quarter as compared to 80,000 units it managed, a year ago.
While scooter sales of the company have been rapidly increasing, the company still gets majority of its sales from the sale of motorcycles. The company’s commuter motorcycle range has been selling really well, though it is now planning to get into the 200cc+ territory with the Apache 200. It is also planning to launch a new scooter called Dash, which has been spotted testing quite a few times.