Mumbai, Jan 20: Chennai-based two- and three-wheeler manufacturer TVS Motor Company Thursday reported an increase of 137 percent in its net profit for the third quarter of the current fiscal which stood at Rs.55.7 crore as against Rs.23.54 crore in the same period of the last fiscal.
The company, in a regulatory filing, said: “Sustained growth across all segments has enabled TVS Motor Company to achieve strong revenue growth.”
The company achieved a 51 percent growth in sales revenue at Rs.1,647 crore in the third quarter as against Rs.1,089 crore in the same period in fiscal 2009-10.
The growth in sales was led by the company’s two-wheeler segment which witnessed a 39 percent increase in sales to 5.18 lakh units from 3.72 lakh units in the third quarter of last fiscal year.
The three-wheeler segment meanwhile reported a rise of 212 percent in sales for the third quarter which stood at 10,079 units as compared to 3,225 units in the corresponding period of fiscal 2009-10.
Segment-wise, motorcycle sales in the quarter under review grew by 40 percent and stood at 2.11 lakh units from 1.15 lakh units in the like period of last fiscal year. While scooter sales increased by 64 percent and stood at 1.24 lakh units from 76,000 units.
The company also exported 51,394 units with a sales growth of 17 percent from 43,696 units in the corresponding period of fiscal 2009-10.