CHENNAI: TVS Motor Company posted a 32 per cent growth in fourth-quarter sales to 8.89 lakh units while clocking more than a 30 per cent rise in net profit to Rs.165.61 crore due to improved domestic and international demand for its two-wheelers and premium priced-motorbikes.
The third-largest two-wheeler manufacturer in India said its exports rose by 45.3 per cent to 1.61 lakh units in the fourth quarter.
TVS, which launched NTorq 125 scooter, Apache RTR 160 4V and the Apache RTR 200 4V motorbikes during the quarter, said its motorcycle sales grew a massive 61.1 per cent, while it saw a 25.5 per cent uptick in scooter sales in the quarter. The company’s three-wheeler sales clocked more than 90 per cent growth, TVS said in a statement.
For the year ended 2017-2018, the company’s total revenue grew 24.7 per cent to Rs.15,129.66 crore from last year’s Rs. 12,135.31 crore, while its profit after tax (PAT) grew by 18.7 per cent, increasing to Rs.662.59 crore from Rs.558.08 crore in the year-ago period.
The Chennai-based company, which makes motorcycles, scooters, mopeds and passenger three-wheelers under the brands Apache, Jupiter, Scooty, XL100 and King, said its board had not recommended any further dividend for the last fiscal year as two interim dividends had already been declared, aggregating to Rs. 3.30 per share (330 per cent) on a share of Re. 1 each.