TVS Motor's net profit 14.62% down to Rs 21.26 crore

New Delhi, July 24 (UNI) TVS Motor Company today posted 14.62 decline in its net profit to Rs 21.26 crore in the first financial quarter of 2006-07 ended June 30, 2006, as against Rs 24.90 during the same period last year, due to the high cost of steel, aluminium and other materials.

The company, however, recorded a growth of 26 per cent with a turnover of Rs 939.62 crore for Q1, as compared to Rs 746.60 crore during the corresponding quarter of last fiscal.

The two-wheeler sales was buoyed by the strong performance of motorcycles, which recorded 233,506 units with 32 per cent growth rate, surpassing industry's 24 per cent.

Total 376,328 two wheelers of TVS Motor were sold in Q1 FY07.

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