TVS Motors has reported a revenue growth of 25.3 % in the first quarter of the current financial year, with consistent growth across all segments. The company’s revenues grew to Rs.1746.03 crore in the current quarter ended June 2011 from Rs.1392.96 crore in the quarter ended June 2010.
Profit before tax during the quarter under review grew 54.3 % at Rs.77.86 crore compared to Rs. 50.46 crore recorded in the comparable period of the previous year. Profit after tax in the current quarter grew at 45.7% to Rs. 58.80 crore from Rs. 40.37 crore in the previous comparable quarter.
The company should have felt that it’s time to pass on the benefit to the investors too. The board in the meeting held today declared a second interim dividend for the year 2010-11 of 60 paise which is 60% per share. The aggregate dividend for the year 2010-11 including the first interim dividend therefore is 110% on a post bonus capital of Rs. 47.51 crore as compared to 120% on a pre-bonus capital of Rs. 23.75 crore in the previous year, 2009-10.
Total two-wheeler sales of the company grew up at 16.3 % in the first quarter of the current fiscal at 5.35 lakh units compared with 4.6 lakh units in the corresponding period of the previous year. Motorcycles sales grew at 10.3% to 2.24 lakh units in the reporting quarter from 2.03 lakh units in the quarter ended June 2010. Scooters, which are TVS Motor’s do0minating segment grew up at 25.3 % totalling 1.19 lakh units in the current quarter from 0.95 lakh units during the corresponding quarter of the previous year which is a very great improvement for the company.
Similarly, two wheeler exports registered 36.4% growth with sales increasing to 0.78 lakh units in the current quarter from 0.57 lakh units in the quarter ended June 2010.
Coming to the performance of the company in Indonesia, during the quarter, PT TVS Motor Company Indonesia registered total two wheeler sales of about 7035 units in comparison with 5694 units recorded in the same period of the previous year. Exports accounted for 2503 units. The product portfolio of the company continued to receive good response from consumers in the region. The recently launched 150 cc Tormax has been very well received by the market out there and will assist the company to a greater extent in boosting the company’s sales figure for the corresponding months.
Author – BikeAdvice.in