TVS Motor Q1 net dips 7 pc

New Delhi, Jul 28 (UNI) TVS Motor Company, the Chennai-based two-wheeler manufacturer, today said it has registered a marginal 7.01 per cent drop in net profit at Rs 7.02 crore during the quarter ended June 2008, against Rs 7.55 crore over the same period last year.

However, the company said it has posted Rs 924.74 crore revenue for the first quarter this year, as compared to Rs 801.58 crore recorded during the corresponding quarter previous year, a statement said.

Motorcycle sales rose to 1,71,700 units during the first quarter this year from 1,52,100 units over the same period last fiscal.

Scooter sales in the quarter dipped to 65,500 units in the first quarter this year, in comparison to 70,200 units during the corresponding period a year ago, the statement added.

During April-June 2008, the company exported 42,500 two wheelers, recording a growth of 50 per cent over the same period last year.

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