TVS Motor’s net profit jumps 42% to ₹833 crore as it registers highest-ever sales in a quarter
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TVS | Credits: Sanjay Rawat
TVS Motor’s net profit jumps 42% to ₹833 crore as it registers highest-ever sales in a quarter
TVS Motor reported a 42% surge in net profit to ₹833 crore for the second quarter, driven by record sales of 15.07 lakh units. The company's consolidated revenues rose 25% to ₹11,905 crore, with significant growth in both domestic and international markets. Despite challenges in magnet availability, TVS continues to explore alternatives to sustain its growth momentum.
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TVS Motor has been an outlier in the two-wheeler industry, which, before the GST rate cut from 28% to 18%, had struggled to grow.
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TVS | Credits: Sanjay Rawat
TVS Motor said on Tuesday that its consolidated net profit for the second quarter jumped 42% to ₹833 crore, as it registered its highest-ever sales in a quarter. Consolidated revenues from operations increased 25% year-on-year to ₹11,905 crore.
The overall two- and three-wheeler sales, including international business, grew by 23%, registering the highest-ever quarterly sales of 15.07 lakh units in the quarter ended September 2025. Sales of motorcycles grew by 20%, registering 6.73 lakh units in the quarter under review, whereas sales of scooters grew by 30%, registering 6.39 lakh units.
According to the Federation of Automobile Dealers Association, TVS Motor sold 2,46,064 two-wheelers domestically in September, giving it a 19.11% market share in the segment. “Two-wheeler segment grew by 36%, powered by affordability improvements, festive offers, and pent-up demand finally translating into retail joy,” Sai Girdhar, vice president, FADA, said earlier.
Two-wheeler sales in the international business grew by 31% to 3.63 lakh units in the quarter ended September 2025. Total three-wheeler sales for the quarter under review grew by 41% at 53,000 units. Sales of its electric vehicles rose 7% to a record 80,000 units. However, the company said that magnet availability—which has been scarce since China imposed export restrictions on rare-earth magnets—remains a challenge in the short- to medium-term. TVS Motor is exploring a host of options, including building rare-earth-free motors.
TVS Motor has been an outlier in the two-wheeler industry, which, before the GST rate cut from 28% to 18%, had struggled to grow, marred by regulatory disruptions such as the implementation of the On-Board Diagnostics (OBD)-II, and early and heavy onset of the southwest monsoon disrupting rural activity and taking a toll on demand.
Motilal Oswal had pegged TVS Motor to grow volumes by 23% in the second quarter and report 49% earnings growth. It posted its highest-ever operating Ebitda of ₹1,509 crore, up 40% from the previous quarter. The company also became the first two-wheeler OEM to pass on the full benefits of the GST rate reduction to its customers—starting September 22, the day on which the new rates come into effect.
TVS Motor shares closed 2.53% lower ahead of its results on Tuesday, at ₹3,547.90 apiece.
