TVS Motor shares trade lower despite 12% rise in March sales volume

Shares of TVS Motor Company traded marginally lower early on April 2 after the company registered a 12 percent growth in its March 2024 sales to 354,592 units from 317,152 units a year back.

At 9:26am, TVS Motor Company was quoting Rs 2,125.10, down Rs 15.00, or 0.70 percent, on the BSE.

The company's total two-wheelers sales jumped 12 percent to 3,44,446 units from 3,07,559 units, while domestic two-wheeler sales shot up 8 percent at 260,532 units in March 2024.

The motorcycle segment registered a growth of 22 percent with sales increasing from 141,250 units in March 2023 to 171,611 units in March 2024, while scooter sales were up 2 percent at 131,472 units.

Its Electric Vehicle segment recorded sales of 15,250 units in March 2024 as against sales of 15,364 units in March 2023.

On the exports front, the company registered a growth of 23 percent with sales increasing from 75,037 units in March 2023 to 91,972 units in March 2024, while two-wheeler exports registered a growth of 26 percent with sales increasing from 66,779 units in March 2023 to 83,914 units in March 2024.

Three-wheelers by the company registered a growth of 6 percent with sales increasing from 9,593 units in March 2023 to 10,146 units in March 2024.

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During the financial year 2023-24, the company registered a growth of 14 percent with total sales increasing from 36.82 Lakh units in FY 2022-23 to 41.91 Lakh units.

During Q4 FY2023-24, two-wheeler of the company registered a growth of 23 percent , while three-wheeler of the company registered a growth of 4 percent . The total exports registered a growth of 40 percent .

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