Two wheeler manufacturer TVS Motor Company Ltd today said its net profit for the second quarter ended September 30, 2010 increased by 123.13 per cent to Rs 54.78 crore as compared to Rs 24.55 crore registered in the corresponding period last year.

The company's total income has jumped by 42.95 per cent to Rs 1,618.73 crore in Q2FY11 as compared to Rs 1,132.36 crore in Q2FY10. A complete portfolio complemented by sales from new and existing products has led to a robust increase in the company's domestic and export sales across all categories during the second quarter of the current fiscal, it said in a statement.

Total two-wheeler sales of the company grew at 32.22 per cent in the current quarter, increasing from 3.91 lakh units in the second quarter of the previous year to 5.17 lakh units in the current quarter. Motorcycle sales grew at 35.48 per cent from 1.55 lakh units in the quarter ended September 2009 to 2.10 lakh units in the reporting quarter, it said. Scooters continued to grow substantially at 45.34 per cent from 0.86 lakh units in the quarter ended September 2009 to 1.25 lakh units in the current quarter, it added.

Two wheeler exports registered 68.57 per cent growth with sales increasing from 35 thousand units in the quarter ended September 2009 to 59 thousand units in the current quarter. Three wheeler sales during the quarter grew 201.50 per cent from 3,259 units in the quarter ended September 2009 to 9,826 units in the quarter ended September 2010, it said.