Riding a 14% increase in turnover, TVS Motor Company on Wednesday reported 74% growth in fourth quarter net profit to Rs 90.52 crore from Rs 52.12 crore in the same quarter last fiscal. With a 7% increase in total unit sales during the quarter, revenue grew 14% to Rs 2,456.85 crore.
During the fiscal, total unit sales grew 21.4%, helping the company record a turnover of over Rs 10,000 crore. The auto major saw a revenue of Rs 10,098.22 crore during the year compared to Rs 7,965.94 crore in the previous fiscal, up 27%. Profit after tax grew 33% to Rs 347.83 crore compared to Rs 261.63 crore in the previous year.
TVS said a comprehensive product portfolio, good market acceptance of new products and consequent growth in volumes enabled it to post good results for 2014-15. During the year, the company had introduced the TVS Scooty Zest 110, and strengthened its presence in the motorcycle segment with the introduction of TVS StaR City+.
Motorcycles sales increased to 2.21 lakh units in Q4 against 1.97 lakh units in the same quarter last fiscal. Scooters sales shot up to 1.66 lakh units compared to 1.37 lakh units in the same quarter last fiscal. Two-wheeler exports grew sharply to 83,000 units in the quarter against 67,000 units same quarter last fiscal. Three-wheeler sales increased from 21,294 units in Q4 of the previous year to 26,901 units in the fourth quarter of 2014-15.
For the full year, overall two-wheeler sales, including exports, grew from 19.93 lakh units to 24.09 lakh units. While motorcycle sales during the fiscal increased to 9.51 lakh units (7.86 lakh units), scooter sales touched 7 lakh units (4.74 lakh units).