TVS Registers 16.3% Growth In Q3 Profit Backed By Strong Sales

Hosur-based TVS Motor Company has reported a 16.3 per cent increase in yearly profit (profit after tax) at Rs. 154.35 crore for third quarter of financial year ending on December 2017. Compared to the said period, the two-wheeler maker registered a yearly profit of Rs. 132.67 crore during Q3 of the 2016-17 financial year. The manufacturer registered a 23.5 per cent year-on-year growth (profit before tax) at Rs. 3685 crore for the quarter, backed by strong sales growth for motorcycles, scooter and even three-wheelers.

TVS' overall two-wheeler sales including exports stood at 7.99 lakh units for the quarter ending December 2017, growing by 13.8 per cent from 7.03 lakh units during the same period in 2016. Motorcycle sales grew by 26.7 per cent to 3.14 lakh units during the third quarter, up from 2.48 lakh units registered in Q3 of 2016.

Scooter sales too increased by 21.6 per cent, up to  2.69 lakh units in December last year, from 2.21 lakh units in the third quarter of 2016-17.

Three-wheeler sales of TVS stood at 26,968 units, and saw the highest increase of 67.7 per cent during the period, as opposed to the 16,081 units that were sold in the third quarter of the last financial year.

Exports too registered top number in between October and December 2017 with TVS Motor shipping 1.40 lakh units of two and three wheelers, as against 0.99 lakh units in the third quarter of 2016-17, a growth of 42.4 per cent.

Factoring TVS' performance for the first nine months of the financial year, the manufacturer's profit after tax grew by 15.2 per cent to Rs. 496.98 crore as against Rs. 431.31 crores registered in the nine months ending in December 2016.