TVS Motor Company Q1 Revenue grows 25%

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TVS Motor Company Q1 Revenue grows 25%

PBT grows 54 % ; PAT grows 46 %;

Bangalore 29 July 2011: TVS Motor Company has reported a revenue growth of 25.3 % in the first quarter of the current financial year, with consistent growth across all segments. The company's revenues grew to Rs.1746.03 crore in the current quarter ended June 2011 from Rs.1392.96 crore in the quarter ended June 2010.

Profit before tax during the quarter under review grew 54.3 % at Rs.77.86 crore compared to Rs. 50.46 crore recorded in the comparable period of the previous year. Profit after tax in the current quarter grew at 45.7% to Rs. 58.80 crore from Rs. 40.37 crore in the previous comparable quarter.

The board in the meeting held today declared a second interim dividend for the year 2010-11 of 60 paise (60%) per share. The aggregate dividend for the year 2010-11 including the first interim dividend therefore is 110% on a post bonus capital of Rs. 47.51 crore as compared to 120% on a pre-bonus capital of Rs. 23.75 crore in the previous year, 2009-10.

Total two-wheeler sales of the company grew at 16.3 % in the first quarter of the current fiscal at 5.35 lakh units compared with 4.6 lakh units in the corresponding period of the previous year. Motorcycles sales grew at 10.3% to 2.24 lakh units in the reporting quarter from 2.03 lakh units in the quarter ended June 2010. Scooters grew at 25.3 % to 1.19 lakh units in the current quarter from 0.95 lakh units during the corresponding quarter of the previous year.

Two wheeler exports registered 36.4% growth with sales increasing to 0.78 lakh units in the current quarter from 0.57 lakh units in the quarter ended June 2010.

Three wheeler sales during the quarter grew by 52.4 % to 12167 units in the quarter ended June 2011 from 7979 units in the quarter ended June 2010.

During the quarter, PT TVS Motor Company Indonesia registered total two wheeler sales of about 7035 units in comparison with 5694 units recorded in the same period of the previous year. Exports accounted for 2503 units. The product portfolio of the company continued to receive good response from consumers in the region. The recently launched 150 cc Tormax has been very well received by the market and is likely to increase the sales of the company.