TVS Motors posts 9pc revenue growth in Q2

Posted By: Staff
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Mumbai, Oct 24: India's leader, two wheeler maker, TVS Motors has posted a growth of 9.25 per cent in the second quarter (Q2) ended Sep 30, 2009.

TVS accounted for the massive growth registering revenues of Rs.1129.9 crore versus Rs 1034.2 in the year ago period, apart from posting surge in sales for six months in a row.

Bolstered by the company's focus on value and cost effective engineering, along with reduction of raw material prices, inventory reduction and improvement in sales realization, Profit Before Tax (PBT) rose by 74 per cent during the quarter under review at Rs 24.1 crore against Rs 13.9 crore and Profit after tax (PAT) stood at Rs 24.6 crore against Rs 10.4 crore (YoY).

While motorcycles sales stood at 155492 units, the sale of scooters grew 12 per cent with sales of 86389 units and three wheeler sales stood at 3259 units in comparison to 1226 units registering a large growth of more than 165 per cent , the company said in a state released on Friday, Oct 23.

However, the company's exports continued to be affected by the global economic slump.

Inspired by the success story of the TVS King, a new generation 3 Wheeler (auto rickshaw), the company launched TVS King Arjun and TVS King LS in Kolkata and Bangalore in Oct 2009.

In the coming quarter, TVS Motors plans to launch two new products including a scooter and a motorcycle.

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