TVS guns for monthly sales of over 2 lakh

TVS Motor Company has projected monthly sales of over 200,000 units for November and December. The projection is based on the demand it witnessed during the first festive month of October, when it sold 2,50,000 vehicles – its highest ever retail sales. This is 20 percent higher than the same festival season last year. The company witnessed high retail growth during the season which has resulted in significant liquidation of stocks, both at the company and dealer end. Given the market demand, the company says it is confident of achieving a 15 percent-plus growth for the current year.

Wholesale number for October, however was lesser than the same month last year. The company sold 1,83,718 units in October 2011 against 1,95,271 units in October 2010. Cumulative sales for the period April to October 2011 grew by 12 percent with sales of 1,324,077 units against 1,184,065 units recorded in the previous comparable period.

TVS Motor recorded a 23 percent growth in revenue in the second quarter of the current financial year The company’s revenues grew to Rs.1992 crore in the quarter ended September 2011 from Rs. 1616 crore in the corresponding quarter of the previous financial year. Profit before tax during the quarter under review grew 49 percent at Rs. 101 crore compared to Rs. 68 crore recorded in the comparable period of the previous year. Profit after tax in the current quarter grew at 40 after to Rs.77 crore from Rs. 55 crore in the previous comparable quarter. Total two-wheeler sales of the company grew at 16 percent in the second quarter of the current fiscal at 5.97 lakh units compared with 5.16 lakh units in the corresponding period of the previous year. Motorcycles sales grew at 15 percent to 2.41 lakh units in the reporting quarter from 2.10 lakh units in the quarter ended September 2010. Scooters grew at 27 percent to 1.59 lakh units in the current quarter from 1.25 lakh units during the corresponding quarter of the previous year.