TVS Motor Q3 net profit up 16% at Rs 154 crore

Chennai-based TVS Motor Co today reported 16.34 per cent increase in standalone net profit at Rs 154.25 crore for the third quarter ended December 31, riding on robust sales growth.

The company had posted a standalone net profit of Rs 132.67 crore in the year-ago quarter, TVS Motor said in a BSE filing.

Revenue from operations was at Rs 3,684.95 crore during the quarter under review. In the same quarter previous fiscal, the figure stood at Rs 3,239.55 crore.

The company said its revenue from operations for the third quarter is net of GST but in the comparable period previous year, it was inclusive of excise duty. Hence the two figures are not comparable.

During the quarter ended December 2017, the overall two- wheeler sales, including exports, grew 13.8 per cent to 7.99 lakh units as against 7.03 lakh units in the year-ago period.

Motorcycle sales were up 26.7 per cent to 3.14 lakh units in third quarter as compared to 2.48 lakh units in the same period last fiscal, the company said.

Scooter sales also increased to 2.69 lakh units from 2.21 lakh units same period last fiscal, a growth of 21.6 per cent.

Three-wheeler sales posted a growth of 67.7 per cent to 26,968 units in the quarter under review.

Total exports of two and three-wheelers in the third quarter stood at 1.40 lakh units as against 99,000 units in the year-ago period, registering a growth of 41.4 per cent, TVS Motor said.

Shares of TVS Motor Co were trading at Rs 706 apiece, down 1.90 per cent from the previous close on BSE.