TVS Motor profit up 20%, co declares interim dividend

TVS Motor has reported a net profit of Rs 213.16 crore during the quarter ended September 30, 2017 as compared to Rs 177.39 crore, an increase of around 20.2 per cent.

Revenue excluding excise duty, GST grew to Rs 4,097.99 crore in the quarter ended September 2017 compared to Rs 3,465.69 crore in the quarter ended September 2016. 

The two-wheeler major's margin was 8.7 per cent, which was higher than the market estimate due to improvement in realisation thanks to a better product mix.

The Board at its meeting held on Wednesday, declared an interim dividend of Rs 2 per share (200 per cent) for 2017-18 absorbing a sum of Rs 114.36 crore, including dividend distribution tax. 

During the quarter ended September 2017, the overall two-wheeler sales, including exports grew by 16.1 per cent to 9.23 lakh units from 7.95 lakh units in the quarter ended September 2016.  Motorcycle sales grew by 9.9 per cent to 3.65 lakh units in the quarter ended September 2017 from 3.32 lakh units registered in the second quarter of 2016-17. 

Scooter sales increased to 3.28 lakh units in the second quarter of 2017-18 from 2.29 lakh units in the same quarter last year, registering a growth of 43.2 per cent.  

The Company exported 1.48 lakh units of two and three wheelers in the quarter under review as against 1.12 lakh units in the second quarter of 2016-17 registering a growth of 32.1 per cent.  

Three wheelers sales registered a growth of 23.8 per cent to 25248 units in the quarter under review as against 20,401 units in the second quarter of 2016-17.