TVS Motor Q2 net up 6.71% to Rs 94.81 crore

Net income up 34.93% to Rs 2,683.07 crore for quarter under review

Chennai-based TVS Motor today reported 6.71 per cent increase in its standalone net profit at Rs 94.81 crore for the quarter ended September.

The company had posted a net profit of Rs 88.84 crore during the July-September quarter last fiscal, it said in a filing to the BSE.

Net income of the company increased 34.93 per cent to Rs 2,683.07 crore for the quarter under review as compared to Rs 1,988.37 crore in the same period a year ago.

The company's total two-wheeler sales grew 35 per cent during the second quarter to 6.48 lakh units as against 4.79 lakh units in the corresponding quarter of the previous year.

Motorcycle sales rose 29 per cent to 2.55 lakh units in the July-September quarter from 1.97 lakh units in the same period last year.

Scooter sales also increased 68 per cent in the second quarter of FY15 to 1.95 lakh units as compared to 1.16 lakh units a year ago.

Three-wheeler sales during the quarter increased 24 per cent to 27,946 units as compared to 22,606 units in the quarter ended September 2013.

Exports of two and three-wheeler units registered a growth of 29 per cent with sales increasing to 1.03 lakh units in the second quarter from 0.80 lakh units in the year-ago period, it said.

For the first half of 2014-15, standalone net profit increased 19.23 per cent to Rs 167.13 crore as against Rs 140.71 crore in the same period last year.

TVS Motor's net income during the six-month period increased 33.07 per cent to Rs 4,988.46 crore as against Rs 3,748.55 crore in the same period of the previous fiscal.

TVS Motors shares were trading 4.67 per cent down at Rs 242 per scrip during afternoon session on the BSE.