Bengaluru , 25 Oct 2013

TVS Motor Company Q2 Revenue Grows 17%

TVS Motor Company announced a 17% increase in revenue for the quarter ended September 2013. Sales revenue grew from Rs.1683.41 crores in the quarter ended September 2012 to Rs. 1962.03 crores in the quarter ended September 2013.

Total two-wheeler sales of the Company grew by 2% in the current quarter ended September 2013, increased from 4.69 lakh units in the second quarter of the previous year to 4.79 lakh units in the quarter ended September 2013. Motorcycle sales grew by 18% from 1.67 lakh units in the quarter ended September 2012 to 1.97 lakh units in the quarter ended September 2013. Scooter sales in the quarter ended September 2013 was 1.16 lakh units compared to 1.19 lakh units in the corresponding quarter last year.

Two wheeler exports registered 27% growth with sales increased from 0.48 lakh units in the quarter ended September 2012 to 0.61 lakh units in the quarter ended September 2013.

Three wheeler sales during the quarter grew 85% from 0.12 lakh units in the quarter ended September 2012 to 0.23 lakh units in the quarter ended September 2013.

Profit before tax and exceptional item, during the quarter under review, grew by 52% from Rs. 58.17 crores recorded in the quarter ended September 2012 to Rs. 88.17 crores in the quarter ended September 2013.

During the quarter ended September 2013, the Company divested its majority stake in TVS Energy Ltd. The profit on sale of stake is shown as an exceptional item. TVS Energy and its two subsidiaries ceased to be subsidiaries of the Company with effect from 16th August 2013.

Profit after tax post exceptional item, has registered a growth of 97%. Profit after tax for the quarter ended September 2013 is Rs. 88.84 crores in comparison to Rs. 45.19 crores reported in the corresponding quarter last year.

The board at its meeting held on 25th October 2013 declared an interim dividend of Re 0.65 per share (65%) absorbing a sum of Rs 36.13 Cr including dividend distribution tax for the year 2013-14.

During the quarter ended September 2013, the Company strengthened its scooter portfolio with the launch of TVS Jupiter, a feature packed scooter to enthuse the male customer. TVS Jupiter has received an overwhelming response in every market where it has been launched so far. TVS Jupiter is currently available in all non-south markets in India and will be available in the southern markets post November 2013.