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

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..