TVS Motor posts lower net profit in 2007-08

June 30th, 2008 - 8:37 pm ICT by IANS  

Chennai, June 30 (IANS) The net profit of two-wheeler manufacturer TVS Motor Co Ltd witnessed a steep decline in 2007-08 at Rs.317.7 million ($7.5 million) compared to Rs.666 million of the previous fiscal. The company announced Monday that its turnover also came down marginally from Rs.39.20 billion in 2006-07 to Rs.32.91 billion in fiscal 2008.

During period under review, TVS Motor sold 1.27 million units comprising motorcycles, scooters and mopeds of which the motorcycles accounted for 610,000 units.

Exports witnessed a growth of 32 percent recording sales of 136,000 units in comparison to 103,000 units in 2006-07.

The company added that it has plans to launch a new Scooty model and upgrade its Apache bike introducing fuel injection technology.

TVS Motor also plans to introduce four-stroke versions of its three-wheeler in petrol, LPG (liquefied petroleum gas) and CNG (compressed natural gas) versions for domestic and export markets during current fiscal.

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