Two-wheeler major TVS Motor Company has reported a 10.4 per cent increase in its net profit at Rs 132.67 crore for the quarter ended December 31, 2016, as against Rs 120.21 crore it reported in the year-ago quarter, the company said in a statement.
The company’s total revenue grew for the three month period ending December 31, 2016 improved marginally to Rs 3,239.55 crore, as against Rs 3,151.12 crore achieved in the year-ago quarter. Consequently, the profit before tax (PBT) too registered a marginal increase of 4.1 per cent to Rs 169.8 crore in the latest quarter, as againstRs 163.14 crore reported in the comparable quarter, last year.
During the December, 2016 quarter, the overall two-wheeler sales of TVS Motor, including exports, grew by four per cent to 7.03 lakh units, as against 6.76 lakh units registered in the year-ago December quarter. Sale of motorcycles saw a marginal drop at 2.48 lakh units, as against 2.60 lakh units sold in the year-ago quarter, as also the scooters, who sales dropped slightly to 2.21 lakh units (2.32 lakh units).
The company exported 0.99 lakh units of two and three-wheelers in the latest quarter, as against 1.08 lakh units in the year-ago December quarter. Sale of three-wheelers fell sharply to 16,081 units in the latest December quarter, as against 26,225 units sold in the previous December quarter.
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