NEW DELHI: Domestic automaker TVS Motor Company reported a marginal decline in its net profit for the second quarter of the current financial year, clocking Rs 211.3 crore against Rs 213.2 crore seen for the corresponding period last year.
However, other metrics continued to remain strong, with revenue rising 23 per cent to Rs 4,994 crore during the quarter under review compared to Rs 4,098 crore last year. Operating profit had also risen 18 per cent Rs 428.2 crore against Rs 362.6 crore a year ago.
As for sales, year-on-year overall two wheeler sales grew 13.6 per cent, motorcycle sales by 14.9 per cent and scooter sales by 18.2 per cent. The firm also saw exported units rise by 35.2 per cent to 1.99 lakh units.
The company also elevated K N Radhakrishnan as Director and CEO of the company for a period of five years with effect from October 23, 2018. On Radhakrishnan’s record, TVS chairman Venu Srinivasan said his “experience within the company and his prestigious position in the automobile industry has been instrumental in helping the company achieve significant milestones”.
Radhakrishnan was promoted to executive vice president of the firm in 2004 and became president in 2006. TVS shares today ended 3.75 per cent up at Rs 536.05 on BSE.