TVS Motor Company Q2 net profit up 33.4% YoY to Rs 177 crore

NEW DELHI: TVS Motor reported 33.4 per cent year-on-year (YoY) growth in September quarter net profit at Rs 177 crore, which was higher than the ETNow estimate of Rs 155 crore.

The two-wheeler maker had reported a net profit of Rs 132.96 crore in the corresponding quarter of last financial year, TVS Motor said in a statement.
Total sales grew over 20 per cent on a YoY basis to Rs 3,726 crore, which was higher than ETNow poll estimate of Rs 3,330 crore. TVS Motor had reported net sales of Rs 3,089 crore for the year-ago period.

The board of directors of the company declared an interim dividend for the financial year ending March 31, 2017, at Rs 1.25 per share.

During the quarter, overall two-wheeler sales of TVS Motor, including exports, grew 23.1 per cent to 7.95 lakh units against 6.46 lakh units reported for the quarter ended September 30, 2015.

Motorcycles sales grew 30.2 per cent to 3.32 lakh units in the second quarter of 2016-17 from 2.55 lakh units reported for the second quarter of 2015-16.

Scooter sales increased to 2.29 lakh units in the second quarter of 2016-17 from 2.18 lakh units in the same quarter of 2015-16, registering a growth of 5 per cent.