
TVS Motor Company registers revenue growth of 19.3% for quarter ending in June 2017
Mumbai, Aug 17 (IBNS): Two and three-wheeler manufacturer TVS Motor Company has reported a revenue growth of 19.3% for the quarterended in June 2017.
Total revenue grew to Rs. 3799.81 crores in the quarter ended June 2017 from Rs. 3184.35 crores in the quarter ended June 2016.
The Company’s Profit Before Tax (PBT) registered a growth of 11.6% to Rs. 179.44 crores in the first quarter of 2017-18 from Rs. 160.82 crores in the first quarter of the previous financial year.
Profit After Tax (PAT) increased by 6.8% to Rs.129.47 crores in the quarter under review from Rs.121.25 crores in the corresponding period last year.
The above profits are after provision of Rs.16.50 Cr being additional discount offered to dealers for pre GST stocks held by them on 30 th June, 2017 for selling vehicles at revised prices post GST introduction.
During the quarter that ended in June 2017, the overall two-wheeler sales of the Company including exports grew by 12% to 7.85 lakh units in the quarter ended June 2017 from 7.01 lakh units in the quarter ended June 2016.
Motorcycle sales grew by 16.8% to 3.30 lakh units in the quarter ended June 2017 from 2.83 lakh units registered in the first quarter of 2016-17.
Scooter sales increased to 2.58 lakh units in the first quarter of 2017-18 from 1.96 lakh units in the first quarter of 2016-17 registering a growthof 31.2%.
The Company exported 1.11 lakh units of two wheelers in the quarter under review as against 0.89 lakh units in the first quarter of 2016-17 registering a growth of 23.7%. Three wheelers registered sales of 17037 units in the quarter under review as against 17337 units in the first quarter of 2016-17.
The Company has passed on the benefit of GST and price of all products were appropriately reduced. The price reduction is in the range of Rs. 350 to Rs. 1,500 in the commuter segment. In the premium segment, the prices were reduced up to Rs. 4,150 depending on State level taxes in the pre-GST period.
Image: Official Facebook page of TVS.
Top Headlines
-
News
'Heard India will be dropping its tariffs substantially': Donald Trump ahead of announcing reciprocal tariff
April 01, 2025
-
News
Israel Defense Forces says senior Hezbollah official Hassan Ali Mahmoud Bdeir eliminated
April 01, 2025
-
News
Red Cross 'outraged' by deaths of eight medics in Gaza
March 31, 2025
-
News
More than 150 killed, hundreds injured as 6 earthquakes devastate Myanmar, tremors felt in Bangkok
March 28, 2025
-
News
'Now it's our turn': Vladimir Putin accepts Narendra Modi's invitation to visit India
March 27, 2025
-
News
Canada Polls: Khalistani critic Chandra Arya barred from running under Liberal Party's banner over alleged 'India' ties
March 26, 2025
-
News
Oscar-winning Palestinian filmmaker Hamdan Ballal attacked, arrested In West Bank, claims co-directors
March 25, 2025
-
News
'I have a very good relationship with India but they're one of the highest tariffing nations': Donald Trump
March 20, 2025
-
News
Donald Trump will back Volodymyr Zelenskyy get more air defence from Europe: White House
March 19, 2025
-
News
Donald Trump, Vladimir Putin discuss ways to end Ukraine war in a two-hour call
March 18, 2025