TVS Motor Q3 net flat at Rs 57 cr

Two-wheeler major TVS Motor Company today reported 1.40% rise in standalone net profit for the quarter ended December 31, 2011, at Rs 56.53 crore.

The company had posted a net profit of Rs 55.75 crore in the corresponding period last financial year, TVS Motor Company said in a filing to the Bombay Stock Exchange.

The total income during the third quarter also increased by 7.02% to Rs 1,762.22 crore from Rs 1,646.65 crore in the year-ago period, it added.

During the quarter, the company's total vehicle sales rose marginally to 519,000 units from 518,000 units in the same period previous year.

The company saw its scooter sales climbing by 11.29% to 138 lakh units, while the same for motorcycle segment declined by 8.53% to 193 lakh units, the filing said.

The three-wheeler sales dipped by 11.71% to 8,899 units, it added.

However, two-wheeler exports during the three-month period went up by 23.83% to 63,700 units.

Besides, the company's Indonesian operations recorded sales of 4,033 two-wheelers, up 6.13%.

Reacting to the results, shares of the company were trading 0.98% up at Rs 51.40 apiece on the Bombay Stock Exchange during afternoon trade.