TVS Motor's Q2 Profit Surges on Strong Demand

01 Nov 2023 CW Team

TVS Motor, an Indian automobile manufacturer, was surprised with a 31.7% increase in its second-quarter profit, primarily fueled by robust demand for its budget-friendly two-wheelers and electric vehicles. The company's profit for the quarter ending on September 30 reached INR 5.27 billion ($63.33 million), exceeding analysts' expectations, who had estimated a profit of INR 5.25 billion, according to LSEG data.

The success can be attributed to offerings like the Raider 125 motorcycle in the executive segment, which helped the company expand its market share. Jay Kale, Vice President at Elara Capital, noted that the production issues related to chip supply shortages that had plagued the company in the previous year have been resolved.

TVS Motor witnessed a 10% increase in scooter sales and a 3% rise in motorcycle sales during the quarter. In the executive segment, which includes base model motorbikes and scooters priced between $650 and $1,140, domestic sales more than doubled, according to data from the Society of Indian Automobile Manufacturers (SIAM).

The company also experienced a significant surge in electric vehicle sales, with a nearly 3.6-fold increase compared to the previous year, totaling 580,000 units. TVS Motor now holds the second-largest market share in the Indian electric two-wheeler sector.

However, the company faced challenges in its international markets, particularly in Africa, where currency availability issues and macroeconomic pressures led to a decline in demand and a more than 5% drop in exports compared to the previous year.

TVS Motor's larger rival, Bajaj Auto, also reported sluggish revenue growth recently due to weak rural demand for its two-wheelers.

Despite these challenges, TVS Motor's shares closed more than 1% higher ahead of its Q2 results. They have risen by more than 48% year-to-date, outperforming the Nifty Auto index, which has seen a 27% increase.

Real Estate

30 Jun 2026

Anyone not using AI today will seriously fall behind.

As enterprises grapple with fragmented data, multiple banking relationships and increasingly complex financial operations, AI is emerging as a powerful enabler of faster and more informed decision-making. Bengaluru-based Zenalyst is positioning itself at the forefront of this transformation through its AI-driven enterprise intelligence and treasury management platform. In this interaction, Nagendra Singh, CEO, Zenalyst, discusses how the company is leveraging AI to deliver real-time cash visibility, automate treasury operations and help real-estate developers make smarter financial decisions.W..

Tap Off: What BMC's Water Cut Means for Mumbai realty?

By a circular dated June 17, 2026 (‘BMC Circular/Circular’), the Brihanmumbai Municipal Corporation (BMC) introduced temporary water conservation measures across Mumbai, citing the depletion of reservoir reserves to 10.35 per cent following the delayed monsoon, reportedly affected by El Niño conditions. The restrictions include disconnecting existing construction-related water connections, suspending new construction-related water connections, temporarily cutting water supply to swimming pools, and reducing supply to industrial, commercial and sports establishments by 20 per cent. Wh..

Tunnelling Towards Tomorrow

The Mumbai–Ahmedabad Bullet Train project is advancing rapidly through some of western India’s most demanding terrain and urban corridors. Recent achievements—from mountain tunnel breakthroughs and TBM deployment to complex steel bridge launches—demonstrate the scale, precision and engineering expertise driving India's first high-speed rail network towards reality.Mountain MilestoneThe breakthrough of the 417-metre-long MT-07 tunnel at Ambesari in Palghar marks the third mountain tunnel completed within five months...To read the full article Click Here ..