TVS Motor Co reports 21% increase in net profit for Q1 FY2016-17

Banking on strong two-wheeler, TVS Motor Company reported a net profit (PAT) of Rs 121.25 crore in the quarter ended June 2016 as against Rs 100.08 crore in the same quarter last fiscal, up 21% year-on-year (YoY).

The company reported total revenue of Rs 2,880.94 crore as against Rs 2,574.09 crore in Q1-FY2017 (up 12% YoY). The automaker’s Profit Before Tax (PBT) grew 23% to Rs 160.82 crore from Rs 130.35 crore in the first quarter of the previous fiscal. 

During the quarter ended June 2016, the overall two-wheeler sales of TVS, including exports grew 15.3% to 7.01 lakh units in the quarter ended June 2016 from 6.08 lakh units registered in the same quarter last fiscal. Motorcycles sales grew by 11% to 2.83 lakh units in the first quarter of 2016-17 from 2.55 lakh units registered in the first quarter of 2015-16. Scooter sales increased to 1.96 lakh units in the first quarter of 2016-17 from 1.65 lakh units in the first quarter of 2015-16 registering a growth of 19%.

The company exported 0.89 lakh units of two-wheelers in the quarter under review as against 0.92 lakh units in the first quarter of 2015-16. On the flip side, three-wheelers sales dwindled to 17,337 units in the quarter under review as against 30,229 units in the first quarter of 2015-16.

Also read: TVS Motor’s Q4-FY2016 profit rises 30% to Rs 118 crore