TVS Motor Q1 net up 39% to Rs 72.32 crore

TVS Motor Company today reported a 39.42% increase in its standalone net profit to Rs 72.32 crore for the quarter ended June 30, on account of robust sales.

The company had posted a net profit of Rs 51.87 crore during the April-June quarter last fiscal.

Net sales of the company increased by 30.05% to Rs 2263.21 crore for the quarter under review, as compared to Rs 1,740.19 crore in the same period a year ago, the company said in a filing to the BSE.

Total two-wheeler sales of the company grew 22% in the quarter to 5.59 lakh units as against 4.60 lakh units in the year-ago period.

Motorcycle sales rose 23% to 2.28 lakh units in the June quarter from 1.85 lakh units in the same period last year, the company said.

Scooter sales also increased to 55% during the months to 1.52 lakh units as compared to 0.98 lakh units a year ago.

Two and three wheeler exports of the company registered a growth of 47% with sales increasing to 0.97 lakh units in the first quarter from 0.66 lakh units in the year-ago period, it said.

TVS Motor's sales of three-wheelers also jumped 60% during the first quarter of 2014-15 to 25,000 units as against 15,600 units in the same period a year earlier.

Shares of TVS Motors were trading at Rs 167.00 per scrip on the BSE in the afternoon trade, down 1.45% from its previous close.