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TVS Motor Q1 net up 21% at Rs 121 crore

 

TVS Motor Q1 net up 21% at Rs 121 crore

  TVS Motor Company on Tuesday posted a 21% increase in net profit at Rs 121.25 crore for the first quarter ended June 30, riding on robust sales across domestic and international markets.

 

The two-wheeler major had posted a net profit of Rs 100.08 crore in the corresponding period of previous financial year.

"Net sales of the company rose to Rs 2,852.59 crore for the first quarter as compared to Rs 2,543.59 crore during the same period of previous financial year," TVS Motor Company said in a regulatory filing.

During the quarter, the overall two-wheeler sales of the company including exports grew by 15.3% to 7.01 lakh units from 6.08 lakh units registered in the same period last financial year.

Motorcycle sales grew by 11% to 2.83 lakh units in the first quarter of 2016-17 from 2.55 lakh units in the first quarter of 2015-16.

Scooter sales rose to 1.96 lakh units in the first quarter from 1.65 lakh units in the same period of previous financial year.

Shares of the company were trading 3.16% down at Rs 291.15 on BSE.