TVS Motor reports Rs 24 cr profit

TVS Motor Company’s Profit after tax (PAT) rose to Rs. 24.6 crore during the quarter ended September 20, 2009 from Rs 10.4 crore during the same period last year. The company has recorded a growth of 9.25 per cent in revenues which stood at Rs 1,129.9 crore compared to Rs 1,034.2 crore, a year ago.

“This can be attributed to continuous focus on value and cost effective engineering, together with reduction of raw material prices, inventory reduction and improvement in sales realization,” according to TVS Motor, country’s third largest two-wheeler company, by sales.

The company witnessed a growth of 4.7 per cent in its total two-wheeler sales in the second quarter of the current fiscal recording sales of 391,241 units compared to 373,761 units in the corresponding period of the previous financial year.

The second quarter motorcycles sales stood at 155,492 units in comparison to 180,964 units over the previous period. Scooters grew 12 per cent registering sales of 86,389 units against 76,853 units during the corresponding quarter of the previous year. Three wheeler sales stood at 3259 units in comparison to 1226 units registering growth of more than 165 per cent over the corresponding quarter of the previous year. 

Exports however, continued to be affected in the second quarter registering lower sales of 35,080 two wheeler units in comparison to 52,249 units recorded in the corresponding period of the previous year.