TVS Motor Company posts 7pc revenue growth in Q3

TVS Motor Company has registered a 7pc growth in revenue in the third quarter of the current financial year. The company's revenues grew to Rs. 1762 crore in the quarter ended December 2011 from Rs. 1647 crore in the corresponding quarter of the previous financial year. Profit before tax (PBT), during the quarter under review, was higher at Rs. 75.56 crore, compared to Rs. 70.29 crore recorded in the same period of the previous year. Profit after tax (PAT) in the current quarter was Rs. 56.53 crore compared to Rs. 55.75 crore in the previous comparable quarter. For the period April 2011 to December 2011, the company's cumulative PBT and PAT were substantially higher than the comparable period of the previous year. While cumulative PBT for nine months ending December 2011 increased to Rs.254.28 crore from Rs.188.52 crore in the previous year, the cumulative PAT for nine months ending December 2011 increased to Rs.191.84 crore from Rs.150.90 crore reported in the previous comparable period. In the third quarter of the current fiscal, the company reported total two-wheeler sales at 5.19 lakh units, compared with 5.18 lakh units in the corresponding period of the previous year. Scooter sales grew by 11pc to 1.38 lakh units in the current quarter from 1.24 lakh units during the corresponding quarter of the previous year, while motorcycles registered sales of 1.93 lakh units in the reporting quarter against 2.11 lakh units in the quarter ended December 2010. . Two wheeler exports registered 24pc growth with sales increasing to 63700 units in the current quarter from 51441 units in the quarter ended December 2010. Three wheeler sales during the quarter were lower at 8899 units in the quarter ended December 2011 from 10079 units in the quarter ended December 2010. During the quarter, PT TVS Motor Company Indonesia registered total two wheeler sales of 4033 units in comparison with 3800 units recorded in the same period of the previous year. For the nine months ending December 2011, PT TVS Motor Company recorded cumulative sales growth of 28pc with 18,905 units against 14,809 units in the comparable period of the previous year.