TVS Motor’s June-quarter profit jumps 51% as EV two-wheeler sales rise 86%

TVS Motor reported June-quarter net profit of Rs 1,174 crore, up 51.3% year on year, while revenue rose 37.8% to Rs 13,896 crore. Total vehicle sales grew 28% to 1.63 million units, led by scooters, exports and electric two-wheelers.

— Source publishedWed, 22 Jul, 2026, 09:53 IST·First seen Wed, 22 Jul, 2026, 10:34 IST·Source NDTV Profit

What happened

TVS Motor reported strong June-quarter earnings and record sales, aided by higher volumes, calibrated price hikes and cost optimisation. EV two-wheeler sales

Key facts

  • Net profit rose 51.3% YoY to Rs 1,174 crore
  • Revenue from operations rose 37.8% YoY to Rs 13,896 crore
  • EBITDA increased 41.2% to Rs 1,780 crore
  • EBITDA margin improved to 12.8% from 12.5%
  • Total two- and three-wheeler sales rose 28% YoY to 1.63 million units
  • Motorcycle sales grew 19% to 0.74 million units
  • Scooter sales rose 36% to 0.68 million units
  • International sales increased 33% to 0.47 million units
  • Electric two-wheeler sales rose 86% YoY to 129,940 units
  • Three-wheeler sales rose 48% to 66,697 units

Why this matters

TVS Motor’s accelerating EV sales strengthen the strategic case for partnerships or acquisitions in batteries, charging, software and component localization to secure differentiation as India’s electric two-wheeler market expands.

What to watch

  • Monthly EV registration growth versus TVS Motor's reported dispatches and key rivals' volumes.
  • Electric two-wheeler market-share movement for TVS, especially in major scooter-led states.
  • Gross-margin and EBITDA-margin trend as EV mix rises.
  • Inventory levels at dealers, discounting intensity and financing penetration.
  • Battery-cell, rare-earth and electronics input costs, plus any change in EV subsidies or tax policy.
  • Export recovery and currency trends, given exports were a meaningful contributor to quarterly growth.
  • Accelerate electric scooter variant launches and expand EV-specific dealer/service coverage.
  • Increase battery, motor and electronics localization to protect margins as EV volumes scale.
  • Use financing offers, exchange programs and fleet partnerships to convert scooter demand into EV adoption.
  • Deploy stronger cash generation toward capacity, exports, premium products and selective EV ecosystem investments.