7 percent revenue growth posted by TVS Motor Company in Q3

TVS Motor Company has registered 7 percent growth in revenue in the third quarter of the current financial year. The company’s revenues grew to Rs. 1762 crore in the quarter ended December 2011 from Rs. 1647 crore in the corresponding quarter of the previous financial year.

Profit before tax (PBT) during the quarter under review was higher at Rs. 75.56 crore, compared to Rs. 70.29 crore recorded in the same period of the previous year. Profit after tax (PAT) in the current quarter was Rs. 56.53 crore compared to Rs. 55.75 crore in the previous comparable quarter. For the period 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 Rs.254.28 crore from Rs.188.52 crore in the previous year, the cumulative PAT for nine months ending December 2011 increased to Rs.191.84 crore from Rs.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 percent 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 percent growth with sales increasing to 63,700 units in the current quarter from 51,441 units in the quarter ended December 2010. Three wheeler sales during the quarter were lower at 8,899 units in the quarter ended December 2011 from 10,079 units in the quarter ended December 2010.

During the quarter, PT TVS Motor Company Indonesia registered total two wheeler sales of 4,033 units in comparison with 3,800 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 percent with 18,905 units against 14,809 units in the comparable period of the previous year.