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TVS Motors registers 31 percent growth in Q3 results

Snapshot: TVS Motor Company registered 31.17 percent increase in net profit which stood at INR 68.8 crore for the third quarter of the year

TVS Motor Company has registered 31 percent year-on-year growth in net profit for the quarter ended this December. The figure stood at INR 68.80 crore, up from INR 52.45 crore in the same quarter of corresponding year. Capitalising on over three percent  growth in overall sales, all thanks to recently launched Jupiter and sharp rise in exports of the company. 

Though, the profit in Quarter 2 was much higher at INR 89 crore. That result was was backed by the savings on raw material costs and reduction in other manufacturing expenses. The revenues during the quarter increased 13 percent from INR 1,802.61 crore in the same quarter last fiscal. The figure in Quarter 2 stood at INR 1,962.03 crore.

During the quarter, total two-wheeler sales grew to 5.12 lakh units from 5.03 lakh units sold in Quarter 3 of the last fiscal. Motorcycle sales grew to 2.07 lakh units, while the scooter sales grew up to 1.23 lakh units.

With 22 percent growth in the exports of the company, the figures stood at 61,000 units from 50,000 to 61,000 units. Whereas, the three-wheeler sales during the quarter grew 52 percent to 20,701 units against 13,602 units in the same quarter last year.

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