Strong rise in sales drove net profits of TVS Motor up by 16.34 per cent in the third quarter of the current fiscal. The Chennai-based two-wheeler company registered profits to the tune of Rs 154.35 crore in the quarter that ended on December 31, 2017, as opposed to Rs 132.67 crore for the year ago period.
During the quarter under review, the overall two-wheeler sales, including exports, increased 13.8 per cent to 7.99 lakh units from 7.03 lakh units in the corresponding period last year, a stock exchange filing from the company said. TVS Motor exported a total of 1.40 lakh units of two and three wheelers during the December quarter, which is 42.4 per cent more than 99,000 in Q3 during 2016-17.
Motorcycle sales rose to 3.14 lakh units in third quarter as compared to 2.48 lakh units in the same period last fiscal, resulting in a segment growth of 26.7 per cent, the statement said. The scooter segment rose by 21.6 per cent to 2.69 lakh units in the last quarter, against the 2.21 lakh units in the year ago period. TVS Motor sold 26,968 units of three-wheelers in the quarter under review, in comparison to 16,081 units during the year ago period.
Revenue from operations reached Rs 3,684.95 crore in Q3 of financial year 2017-18, the motorcycle manufacturer said in a stock exchange filing. This figure was at Rs 3,239.55 crore during the third quarter last fiscal, which amounts to a growth of 13.74 per cent.
The company said its revenue from operations for the third quarter is net of GST but in the comparable period previous year, it was inclusive of excise duty. Hence the two figures are not comparable.
Shares of TVS Motor Co were trading at Rs 706 apiece, down 1.90 per cent from the previous close on BSE.
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