Riding on impressive sales numbers, leading two and three-wheeler maker TVS Motor Company has reported a 30% jump in its net profit to Rs 118 crore for the fourth quarter as against Rs 91 crore in the corresponding period last year. The Chennai-based auto major, the flagship company of $7 billion TVS Group, has reported a revenue growth of 15% at Rs 2815 crore for Q4 as against Rs 2443 crore logged in same quarter last fiscal.
Motorcycles sales increased to 2.47 lakh units in the fourth quarter from 2.21 lakh units while scooter sales increased to 1.98 lakh units from 1.66 lakh units. The company exported 0.83 lakh units of two wheelers in the quarter under review. Three wheelers registered sales of 21, 445 units in the quarter as against 26,901 units in the fourth quarter of 2014-15.
TVS Motor, in a statement, said that a comprehensive product portfolio with good market acceptance of new products and steady growth in sales has enabled the company to post a 12% revenue growth during the financial year 2015-16. During the year the company recorded total sales of 2.7 million units.
Total revenue increased by 12% growing to R11,244 crore from R10,042 crore for the year. Net profit of the company for the whole year grew by 24%, increasing to R432 crore from R348 crore.
During the year, the overall two-wheeler sales of company, including exports grew to 25.68 lakh units from 24.09 lakh units. Motorcycle sales during the year increased to 10.17 lakh units from 9.51 lakh units.
Scooter sales during the period under review increased to 8.13 lakh from 7.0 lakh units.