New Delhi: TVS Motor Company on Thursday posted a 33.41 per cent rise in its standalone net profit at Rs 177.39 crore for the quarter ended September 30, riding on robust sales across domestic and international markets.
The two-wheeler major had a net profit of Rs 132.96 crore in the July-September quarter a year ago. Total standalone income from operation was up 20.61 per cent to Rs 3,726.31 crore during the quarter under review as against Rs 3,089.42 crore a year ago. Its total expenses during the quarter increased 20.61 per cent to Rs 3,522.06 crore as against Rs 2,918.95 crore.
“During the quarter ended September 2016, overall two-wheeler sales of TVS Motor Company, including exports grew by 23.1 per cent to 7.95 lakh units as against 6.46 lakh units registered in the quarter ended September 2015,” the company said.
Motorcycle sales grew by 30.2 per cent to 3.32 lakh units in the second quarter of 2016-17 as against 2.55 lakh units in the second quarter of 2015-16.
Scooter sales rose 5 per cent to 2.29 lakh units in the first quarter from 2.18 lakh units in the same period of the previous financial year.
The company exported 1.12 lakh units of two and three wheelers in the quarter under review as against 1.27 lakh units in the same period of 2015-16. “Three wheelers registered sales of 20,401 units in the quarter under review as against 32,922 units in the second quarter of 2015-16,” said TVS Motors.
In the first half of 2015-16, TVS Motors’ standalone net profit jumped 28.14 per cent to Rs 298.64 crore as against Rs 233.04 crore a year earlier.
Its total income for the six-month period of the current fiscal also increased by 16.76 per cent to Rs 6,874.49 crore as against Rs 5,887.60 crore in the same period last year. Shares of TVS Motors were trading at Rs 402.05 on BSE in post afternoon trade, up 0.59 per cent from previous close.