TVS Motor Posts 149% Rise In Net

Chennai, July 29: | Updated: Jul 30 2002, 05:30am hrs
TVS Motor Company Ltd on Monday reported a 149 per cent increase in net profit to Rs 26.78 crore for the first quarter ended June 2002, as against Rs 10.76 crore during the corresponding quarter last year. Net sales increased by 53.79 per cent to Rs 629.97 crore (Rs 409.61 crore).

The impressive growth is due to the runaway success of the company’s recent 110 cc 4-stroke offering - TVS Victor. The production capacity of Victor is being ramped up to 50,000 units per month before the end of the calendar year from current levels of 25,000 units. There is an order backlog of 40,000 Victors.