TVS Motor Company Revenue Grows 51 per cent in Q3
Published On Jan 20, 2011 12:00 AM By Meenal Singhfor TVS Scooty Pep Plus
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Sustained growth across all product segments has enabled TVS Motor Company to achieve strong revenue growth of 51% in the third quarter with sales revenue growing from Rs. 1089 crore in the quarter ended December 2009 to Rs. 1647 crore in the quarter ended December 2010.
Profit before tax, during the quarter under review, grew by 177% from Rs. 25.41 crore recorded in December 2009 to Rs. 70.29 crore in the current quarter. Profit after tax grew by 137% from Rs. 23.54 crore in the previous comparable quarter to Rs. 55.75 crore in the quarter under review. Total two-wheeler sales of the company grew at 39% in the third quarter, increasing from 3.72 lakh units in the third quarter of the previous year to 5.18 lakh units in the current quarter.
Motorcycle sales grew at 40% from 1.51 lakh units in the quarter ended December 2009 to 2.11 lakh units in the reporting quarter. Scooters continued its upward growth, increasing by 64% from 0.76 lakh units in the quarter ended December 2009 to 1.24 lakh units in the current quarter. Two wheeler exports registered 17% growth with sales increasing from 43,696 units in the quarter ended December 2009 to 51,394 units in the current quarter.
At the end of the quarter under review, PT TVS Motor Company Indonesia sold 14,809 units (April '10 to December '10) in comparison with 10,448 units (April '09 to December '09) registering a growth of 42% over the same period of the previous year. Expansion of dealerships has been a key focus area and the company has added two new provinces to the existing thirteen. Upgraded models of TVS RockZ and TVS Apache will be launched in the fourth quarter. With improved sales network and product portfolio, PT. TVS is expected to vastly improve its performance in 2011-12.
TVS Wego has won the prestigious "Scooter of the Year Award" at the recently concluded CNBC Awards 2011, NDTV Car and Bike Awards 2011, Bike India Awards 2011 and Business Standard Motoring Awards 2011. Eminent panels of jury members including auto enthusiasts and industry experts chose TVS Wego on merits of its design elegance, engine efficiency, smoothness of handling and ride quality.
