TVS Motor reports 123 per cent rise in Q2 PAT

TVS Motor Company today reported a 123 per cent year-on-year increase in its after-tax profit for the July-September 2010 quarter at Rs55 crore against Rs25 crore in the previous comparable quarter.

Profit before tax during the July-September 2010 quarter grew 181 per cent to Rs68 crore from Rs24 crore in July-September 2009.

The company achieved a revenue growth of 43 per cent during the quarter with sales revenue growing to Rs1,616 crore in the quarter ended September 2010 from Rs1,130 crore in the quarter ended September 2009.

"A complete portfolio complemented by sales from new and
existing products has led to a robust increase in the company's domestic and export sales across all categories during the second quarter of the current fiscal", TVS Motor Company said in a release.

Total two-wheeler sales of the company grew 32 per cent to 5.17 lakh units in the July-September 2010 quarter from 3.91 lakh units in the second quarter of the previous year.

Motorcycle sales grew 35 per cent to 2.10 lakh units from 1.55 lakh units in the quarter ended September 2009.

Scooter sales grew 45 per cent to 1.25 lakh units in July-September 2010 from 0.86 lakh units in the quarter ended September 2009.

TVS Motor also reported a 67 per cent jump in exports with sales increasing to 59,000 units in the July-September 2010 quarter from 35,000 units in the quarter ended September 2009.