South India based TVS Motor Company, which is the country’s third largest player in the Indian market has registered a growth rate of 7 per cent in terms of revenue in the third quarter of the current financial year. The company’s revenues grew to a whooping sum of INR 1762 crore in the quarter which ended by last December from INR 1647 crore in the corresponding quarter of the previous financial year.
Profit before tax (PBT) during the quarter under review was higher at a sum of INR 75.56 crore, compared to INR 70.29 crore recorded in the same period of the previous year. Profit after tax (PAT) in the current quarter was INR 56.53 crore compared to Rs. INR 55.75 crore in the previous comparable quarter. For the period from April 2011 to December 2011 , the company’s cumulative PBT and PAT were substantially higher than the comparable period of the previous year. While cumulative PBT for nine months ending December 2011 increased to INR 254.28 crore from INR 188.52 crore in the previous year, the cumulative PAT for nine months ending December 2011 increased to INR 191.84 crore from INR 150.90 crore reported in the previous comparable period.
In the third quarter of the current fiscal, the company reported total two-wheeler sales at 5.19 lakh units, compared with 5.18 lakh units in the corresponding period of the previous year. Scooter sales grew by 11% to 1.38 lakh units in the current quarter from 1.24 lakh units during the corresponding quarter of the previous year, while motorcycles registered sales of 1.93 lakh units in the reporting quarter against 2.11 lakh units in the quarter ended December 2010. .
Two wheeler exports registered 24% growth with sales increasing to 63700 units in the current quarter from 51441 units in the quarter ended December 2010.
During the quarter, PT TVS Motor Company Indonesia, a wholly owned subsidiary of TVS Motor Company has registered total two wheeler sales of 4033 units in comparison with 3800 units recorded in the same period of the previous year. For the nine months ending December 2011, PT TVS Motor Company recorded cumulative sales growth of 28 per cent with 18,905 units against 14,809 units in the comparable period of the previous year.
Author – BikeAdvice.in