TVS Motor Company has reported 6.31% year-on-year growth in net profit for the quarter ended September to Rs 95 crore, buoyed by a spurt in two-wheeler sales. On Friday, TVS & Sons, the holding company of TVS Motor Company, also announced the launch of India’s first-of-its-kind ‘Hypermarket’ concept store, where truckowners can avail end-to-end solutions.
TVS Motor said profit before tax (PBT), excluding exceptional items, grew 49% in Q2 to Rs 131.3 crore compared to Rs 88.2 crore in the quarter ended September 2013. The company has reported a revenue of Rs 2,683.10 crore compared to Rs 1,988.4 crore in the corresponding quarter last year. Total two-wheeler sales grew 35% to 6.48 lakh units against 4.79 lakh units in Q2 last year. Motorcycle sales grew 29%, up from 1.97 lakh units to 2.55 lakh units. Scooter sales grew 68%, from 1.16 lakh units to 1.95 lakh units. Three-wheeler sales during the quarter ended September grew 24%.
Earlier, at a press conference in Chennai, TVS & Sons announced the launch of TVS Hypermarket, an automotive service centre that offers solutions for the commercial vehicle industry. TVS has joined hands with the Sankagiri Lorry Urimaiyalargal Sangam (lorry owners association, abbreviated as SLUS) in TN, the largest fleet owners’ association in India.