TVS Motors posts 100% surge in net profit
Senior officials at TVS said they were satisfied with the company's performance in the first quarter and were of the opinion that its strategy to monitor and control unwarranted expenditure played a key role in facing the challenges of recession.
TVS MOTORS, a leading two-wheeler manufacturer which boasts of a considerable presence in the South Indian states, has posted an increase of 100 per cent in its first quarter business results declared on Friday, July 31. According to the business results for the first quarter ending 30th June, TVS’s net profit has increased to Rs20.04 crores from Rs10.02 crores in the same financial period last year; this amounts to a 100 per cent growth in net profit. Its scooter sales have surged by 3 per cent from 65545 units to 67568 while sales in the three wheeler segment have tripled; it increased to 2223 units from 765 units during the same business period last year.
Sales in its motorcycle segment have shown a marginal decline; it has decreased to 154687 from 171703 last year, However, total two wheeler sales have shown a rise of 2 per cent from 343530 units to 350273 units in comparison to the corresponding period in the previous financial year.
TVS Motors was marginally affected by a fall in demand in the international market. It exported 32067 units of two wheelers overseas in comparison to 42214 units during the same period last year. Senior officials of the company were quite satisfied with the company's performance in the first quarter and were of the opinion that its strategy to monitor and control unwarranted expenditure played a key role in tackling the challenges posed by recession and was instrumental in the 100 per cent increase in its net profit.
TVS Motors was marginally affected by a fall in demand in the international market. It exported 32067 units of two wheelers overseas in comparison to 42214 units during the same period last year. Senior officials of the company were quite satisfied with the company's performance in the first quarter and were of the opinion that its strategy to monitor and control unwarranted expenditure played a key role in tackling the challenges posed by recession and was instrumental in the 100 per cent increase in its net profit.
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