TVS Motor Revenues at 869 crores in Q3 exports up 53%
TVS Motor Company today reported
revenues of Rs. 869 crores for the quarter ended December 2008 of the financial year
2008-09, when compared to Rs. 896 crores in the corresponding quarter of
the previous year. The dip in revenues was mainly due to purchase
decisions of customers being deferred due to restricted availability of
finance, liquidity crunch and general inflationary trends witnessed by
the market. The company has posted Profit before Tax of Rs. 0.04 crores
when compared to Rs. 7.22 crores in the corresponding period of the
previous year, which had an exceptional income of Rs. 3.62 crores.
Motorcycles sales for the quarter ended December 2008 stood at 145 lakh
units when compared to 176 lakh units in the same period of the previous
year, while scooters registered sales of 57 lakh in comparison to 65
lakh units during the corresponding quarter of the previous year.
The company, however, has recorded a 4% cumulative growth in sales for
the period April to December 2008.
During the quarter, the company added an upgrade of the Apache RTR 160,
equipped with 200mm rear petal disc brakes, to its premium segment. This
new feature further enhances the braking distance, the bike already
enjoying best in class, shortest braking distance.
In keeping with its intention to lead innovation in the scooter segment,
TVS Motor Company, during the quarter, launched the all new Stylish and
Futuristic TVS Scooty Streak. Available in a range of five exciting
colours including red, blue, black, pink and mauve, TVS Scooty Streak is
packed with many innovative features and comes with a smart and sleek
unisex styling. The sharp head lamps, LED tail-lamps and contemporary
styling takes TVS Scooty Streak into a different league making it the
most stylish scooter for young girls. The LiTech engine makes the Scooty
Streak light, zippy and the most fuel efficient bike in its class.
In an effort to boost sales, TVS Motor Company, during the third
quarter, entered into an agreement with IndusInd Bank, similar to an
arrangement with ICICI Bank to provide inventory funding to its dealers,
thus strengthening the distribution channel and enhancing the working
capital for its dealers.
During the quarter, the company won two prestigious IT awards, namely
SAP ACE 2008 award and the 2008 Symantec South Asia Visionary Award.
While the company won the SAP Ace Award for digitization of new product
development process in SAP by implementing PLM (Product Life Cycle
Management), the Symantec South Asia Visionary Award was conferred for
the way the company secured and managed systems and information.
TVS Motor Company was conferred the 'Good Advertising' award in the two
wheeler segment at the Apollo Tyres Auto India Best Brands Survey Awards
2008. The uniqueness of these awards is that the winners were chosen
based on responses of readers of Auto India and Business India as well
as leading opinion makers of the automobile industry. The survey was
conducted by MARS on behalf of the Business India Group.
Exports continued the upward growth trend registering a total number of
55 lakh units during the third quarter ended December 2008, recording a
growth of 53% over the same period last year. In November 2008, exports
recorded the highest ever month on month growth with sales doubling. The
company has expanded its footprint to more than 54 countries across the
In line with its overall business plan for the financial year, the
company expects to maintain cumulative growth in sales over the previous
year in the next quarter as well. The company remains committed to
continuously implement its focused and improved value engineering
program to reduce costs and further enhance quality.