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TVS Motor Q1 PAT up 7% at Rs 129 cr

Press Trust of India  |  New Delhi 

Company today posted a 6.8 per cent rise in profit after (PAT) at Rs 129.47 crore for the first quarter ended June 30, 2017.

The company had posted a PAT of Rs 121.25 crore in the corresponding quarter of previous year.

"The above profits are after provision of Rs 16.50 crore being additional discount offered to dealers for pre-stocks held by them on June 30, 2017 for selling vehicles at revised prices post introduction," the company said in a statement.

Total of the company grew to Rs 3,799.81 crore for the quarter ended June 2017, as compared to Rs 3,184.35 crore in the same period of previous fiscal.

During the quarter under review, the company sold a total of 7.85 lakh two-wheelers, up 12 per cent from 7.01 lakh units in the same period of previous fiscal.

The company said it has successfully migrated to the post GST-era.

"All extended supply chain partners have also migrated to and there was no disruption in the supply chain," it said.

The company said it has passed on the benefit of GST and price of all products were appropriately reduced.

"The price reduction is in the range of Rs 350 to Rs 1,500 in the commuter segment. In the premium segment, the prices were reduced up to Rs 4,150 depending on state level taxes in the pre-GST period," the company said.

Shaes of Company ended 5.57 per cent down at Rs 546.10 on BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 11 2017. 17:22 IST