TVS Motor’s third quarter net profit up 1.39 percent

January 31st, 2012 - 5:53 pm ICT by IANS  

Mumbai, Jan 31 (IANS) Two- and three-wheeler maker TVS Motor Tuesday reported a 1.39 percent rise in net profit for the quarter ending December at Rs.1,728.1 crore from Rs.1,437.02 crore in the like period of 2010-11.

The company said in a regulatory filing that its net sales in the period under review rose by 6.84 percent at Rs.1,732.59 crore from Rs.1,613.92 crore in the quarter ended Dec 31, 2010.

TVS Motor’s total income in the quarter increased 7.01 percent at Rs.1,762.22 crore from Rs.1,646.65 crore in the corresponding quarter of 2010-11.

The company’s expenditure in the quarter grew 6.50 percent at Rs.1,676.39 crore from Rs.1,573.97 crore in the like period of 2010-11.

Raw material cost in the third quarter rose by 4.60 percent at Rs.1,297.49 crore from Rs.1,240.38 crore in the quarter ended Dec 31, 2010.

“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,” the company said in a statement.

“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.”

According to the statement, three-wheeler sales during the third quarter declined by 11.70 percent at 8,899 units from 10,079 units in the quarter ended Dec 31, 2010.

Meanwhile, two-wheeler exports grew by 24 percent at 63,700 units from 51,441 units in the corresponding quarter of 2010-11.

The company’s scrip at the Bombay Stock Exchange (BSE) was up 2.95 percent at Rs.52.40.

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