Buoyed by a 23% growth in total two wheeler sales as well sharp increase in other income, TVS Motor Company has reported a 33.4% growth in its profit after tax (PAT) for the quarter ended September to R177.39 crore. In the corresponding period last year, it recorded a profit of R132.96 crore.
In the June quarter this fiscal, the company had registered a net profit of R121.25 crore.
In the September quarter, the revenue grew 20.6% to R3,726.31 crore as compared to R3,089.42 crore recorded in the quarter ended September 2015. In the Q1 of current fiscal, the revenue stood at R3,148.18 crore. The profit before tax (PBT) registered a growth of 31.1% to R234.04 crores in the second quarter of 2016-17 as against R178.46 crore in the second quarter of the previous financial year, said a press statement on Thursday.
Other income during the quarter doubled to R39.20 crore as against R19.46 crore reported in the same quarter last fiscal.
During the quarter, the overall two-wheeler sales, including exports grew 23.1% to 7.95 lakh units as against 6.46 lakh units registered in the same quarter last fiscal. Motorcycles sales grew 30.2% to 3.32 lakh units (2.55 lakh units) while scooter segment grew 5% to 2.29 lakh units (2.18 lakh units).
During the quarter, the company exported 1.12 lakh units of two and three wheelers as against 1.27 lakh units in the second quarter of 2015-16. Three wheelers sale declined to 20,401 units in the quarter under review as against 32,922 units in the second quarter of 2015-16.