July 29, 2021 05:40 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
PM Modi congratulates BS Bommai on taking oath as Karnataka CM | SEBI penalises Shilpa Shetty, Raj Kundra for violation of its Insider Trading rules | US Secretary of State Antony Blinken calls on PM Modi, commits to deepens strategic relations | Etihad Airways stops flights from India to UAE till further notice | Heavy rains cause cloudburst near Amarnath Cave in J&K, no casualties reported
TVS Motor Company registers revenue growth of 19.3% for quarter ending in June 2017

TVS Motor Company registers revenue growth of 19.3% for quarter ending in June 2017

India Blooms News Service | | 17 Aug 2017, 08:05 pm
Mumbai, Aug 17 (IBNS): Two and three-wheeler manufacturer TVS Motor Company has reported a revenue growth of 19.3% for the quarter ended in June 2017.

Total revenue grew to Rs. 3799.81 crores in the quarter ended June 2017 from Rs. 3184.35 crores in the quarter ended June 2016.

The Company’s Profit Before Tax (PBT) registered a growth of 11.6% to Rs. 179.44 crores in the first quarter of 2017-18 from Rs. 160.82 crores in the first quarter of the previous financial year.

Profit After Tax (PAT) increased by 6.8% to Rs.129.47 crores in the quarter under review from Rs.121.25 crores in the corresponding period last year.

The above profits are after provision of Rs.16.50 Cr being additional discount offered to dealers for pre GST stocks held by them on 30 th June, 2017 for selling vehicles at revised prices post GST introduction.

During the quarter that ended in June 2017, the overall two-wheeler sales of the Company including exports grew by 12% to 7.85 lakh units in the quarter ended June 2017 from 7.01 lakh units in the quarter ended June 2016.

Motorcycle sales grew by 16.8% to 3.30 lakh units in the quarter ended June 2017 from 2.83 lakh units registered in the first quarter of 2016-17.

Scooter sales increased to 2.58 lakh units in the first quarter of 2017-18 from 1.96 lakh units in the first quarter of 2016-17 registering a growth of 31.2%.

The Company exported 1.11 lakh units of two wheelers in the quarter under review as against 0.89 lakh units in the first quarter of 2016-17 registering a growth of 23.7%. Three wheelers registered sales of 17037 units in the quarter under review as against 17337 units in the first quarter of 2016-17.

The Company has passed on the benefit of GST and price of all products were appropriately reduced. The price reduction is in the range of Rs. 350 to Rs. 1,500 in the commuter segment. In the premium segment, the prices were reduced up to Rs. 4,150 depending on State level taxes in the pre-GST period.

 

Image: Official Facebook page of TVS.