TVS Motor net drops by 2% to Rs 31cr

TVS Motor has reported a marginal drop in the net profit for the year ended March 31, 2009 which stood at Rs 31.08 crore as compared to Rs 31.77 crore, a year ago.

Total revenue increased to Rs 3,741.18 crore for the year ended March 2009, compared to Rs 3,310.35 crore, an increase of around 13 per cent.

The company has reported a five per cent growth in sales which stood at 13.42 lakh units against 12.77 lakh units, a year ago. Motorcycles accounted for 6.45 lakh units against 6.10 lakh units in the year 2007-2008, posting a growth of six per cent. Scooters sales increased to 2.59 lakh units from 2.58 lakh units.

Exports increased by 44 per cent to 1.95 lakh units in 2008-2009 from 1.36 lakh units in 2007-08. The company added two new countries to its portfolio and products are now being exported to 55 countries in last fiscal.

The company has launched Apache RTR, TVS Flame recently and New Motorcycle, New Scooter and Four Stroke Three-Wheeler are likely to be followed.

The company said new products to be introduced will trigger growth and improve profitability. The consolidation in the company's three-wheeler business will be an added advantage.

In June 2009 the company had launched Apache Motorcycle which was followed by Flame SR 125.

The company is planning to expand its scooter platform to offer a large scooter and will introduce an all-new motorcycle in the executive segment. In the three-wheeler segment, the company plans to introduce four-stroke TVS King in Petrol, LPG and CNG versions.

Futuristic technology, contemporary styling and superior quality will continue to be the focus for all new products, according to company’s statement.