Home BusinessTVS Motor Q1 net surges 150% at Rs 18 cr
TVS Motor Company’s net profit during the quarter ended June 30, 2009 rose by over 150 per cent to Rs 18.11 crore from Rs 7.02 crore, a year ago. Total income rose to Rs 988 crore from Rs 924 crore, an increase of 6 per cent during the same period.
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Company’s total two-wheeler sales in the first quarter of the current fiscal stood at 350,273 units compared to 343,530 units in the same period last year, an increase of 2 per cent.
Motorcycles sales dropped by nine per cent to 154,687 units during the first quarter from 171,703 units during the same period last year.
Scooters’ sales grew by 3 per cent to 67,568 units from 65,545, a year ago.Three wheeler sales tripled to 2,223 units in comparison to 765 units in the corresponding period of the previous year.
Exports dropped by 24 per cent to 32,067 two wheeler units in comparison to 42,214 units, a year ago.
The company streamlined its motorcycles portfolio in the first quarter with the launch of TVS Apache RTR 180 in the premium segment and the 2009 model TVS Flame SR 125 in the executive segment.
During the quarter, the company made an investment of around 9.51 crore ($2 million) in its wholly owned foreign subsidiary namely TVS Motor (Singapore), which in turn invested in the equity of the subsidiary namely PT. TVS Motor Indonesia.