TVS Motor reports revenues of Rs. 1691 Crore in Q2
TVS Motor Company has reported revenue of Rs.1691 crore for the quarter ended September 2012 compared to Rs.1991 crore recorded during corresponding quarter in the previous year.
Profit before tax (PBT) for the quarter under review stood at Rs.58 crore against Rs. 101 crore in the second quarter of the previous financial year. Profit After Tax (PAT) for the second quarter of the current year was Rs.45 crore as against Rs. 77 crore in the corresponding period last year.
Motorcycles registered sales of 1.67 lakh units in the second quarter of the current financial year against 2.41 lakh units registered in the previous comparable period. Scooter recorded sales of 1.19 lakh units in comparison to 1.59 lakh units in the corresponding quarter of the previous year. Two wheeler exports registered 0.48 lakh units in the current quarter as against 0.76 lakh units in the quarter ended September 2011. Three wheeler sales for the quarter ended September 2012 stood at 12213 units against 11699 units in the quarter ended September 2011.
Lower sales reflect the overall sentiment of the industry which witnessed a decline in growth to 5% in the second quarter from a growth of 19% in the same period of the previous year and 9% growth in the first quarter of the current year. Between April and September of the current financial year, the industry declined to a growth of a mere 2% when compared to 19% in the same period of the previous year. A weak economic scenario, high inflation, rising fuel prices, high interest rates and poor monsoons in South India further affected sales. However, retail sales for the festival season in the month of October 2012 have been encouraging.