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TVS Motor Q3 up 10.36% at Rs 132.67 crore

Chennai-based TVS Motor Co today reported a 10.36% increase in its standalone net profit at Rs 132.67 crore for the third quarter ended December 31, 2016, riding on robust moped sales.

The company had posted a net profit of Rs 120.21 crore in the corresponding period last year, TVS Motor Co said in a BSE filing.

Total income from operations during the quarter under review stood at Rs 3,239.55 crore as against Rs 3,151.12 crore in the year-ago period, up 2.8%, it added.

During the quarter, overall two-wheeler sales, including exports, grew by 4% to 7.03 lakh units as against 6.76 lakh units registered in the corresponding period last fiscal, the company said.

Motorcycles sales registered 2.48 lakh units as against 2.60 lakh units in the third quarter a year ago, down 4.61%, it added.

TVS Motor Co said its scooter sales during the quarter under review were at 2.21 lakh units as against 2.32 lakh units in the third quarter last fiscal, down 4.74%.

Moped sales were at 2.34 lakh units during the quarter as against 1.84 lakh units in the year-ago period, up 27.17%.

On the export front, the company said overseas shipments of two and three wheelers during the third quarter were at 99,000 units as against 1.08 lakh units in the same period last year.

Three-wheeler sales were at 16,081 units as against 26,225 units in the third quarter of 2015-16, it said.

Shares of TVS Motor Co were trading at Rs 401.75 apiece in the afternoon trade, up 5.64% from the previous close on the BSE.
PTI