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TVS Motor net profit up 19% at Rs 108 cr

Automobile manufacturer TVS Motor Company has posted 19.4% growth in net profit for the quarter ended December 31, 2015 at Rs 107.70 crore as against Rs 90.18 crore during the same period last fiscal.

Total income from operations stood at Rs 2,939.62 crore as compared to Rs 2,639.26 crore during corresponding period last year  with an increase of 11.38%.

The company reached out to 3.75 lakh customers and put up free servicing centres following heavy rains and floods in Tamil Nadu.

Affected two-wheelers were promptly serviced at these servicing camps. In addition, company also contributed to the flood relief fund set up by state government.

The reported profits are after provision for one-off expense of Rs 7.5 crore consequent to floods in Chennai and a further sum of Rs 10.6 crore was provided on account of retrospective amendment to Bonus Act. Out of this amount a sum of Rs 5.7 crore relating to 2014-15 has been shown as exceptional item.