TVS Motor Reports Revenues of Rs. 1820 Crore in Q1

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TVS Motor Reports Revenues of Rs. 1820 Crore in Q1

Bangalore, 27 July 2012:

TVS Motor Company has reported revenue increase of 4.24% from Rs. 1746 crore recorded in the quarter ended June 2011 to Rs. 1820 crore for the quarter ended June 2012.

Total sales for the quarter ended June 2012 remained flat at 5.47 lakh units. Motorcycles registered sales of 2.06 lakh units in the first quarter of the current financial year against 2.24 lakh units registered the previous comparable period. Scooter recorded sales of 1.20 lakh units in comparison to 1.19 lakh units in the corresponding quarter of the previous year. Two wheeler exports registered 0.61 lakh units in the current quarter against 0.78 lakh units in the quarter ended June 2011. Three wheeler sales for the quarter ended June 2012 stood at 9,367 units against 12,167 units in the quarter ended June 2011.

Profit Before Tax (PBT) for the quarter under review stood at Rs. 66 crore against Rs. 78 crore in the first quarter of the previous financial year. Profit After Tax (PAT) for the first quarter of the current year was Rs. 51 crore as against Rs. 59 crore in the corresponding period last year. Profits are lower due to significant increase in brand investments across key brands including TVS Wego, TVS StaR City and TVS Sport along with the recently introduced Apache RTR and Scooty Pep.

The company will launch an all new executive segment motorcycle in the second quarter of the current year and a new scooter later in the year, to complete its product portfolio which will increase the company's sales volume.

During the quarter, PT TVS Motor Company Indonesia registered total two wheeler sales of 6,041 units in comparison with 7,035 units recorded in the same period of the previous year. The ongoing expansion to increase the sales network from 110 dealers to 200 by the end of the year in the select six provinces is being executed as per schedule. This will enable a better reach, taking the company closer to customers.