Board declares 50% interim dividend on enhanced capital of Rs. 47.51 cr
Third quarter PBT and PAT grows 177 % and 137 % respectively;
Cumulative PBT and PAT grows 171% and 128% respectively
Sustained growth across all product
segments has enabled TVS Motor Company to achieve strong revenue growth
of 51% in the third quarter with sales revenue growing from Rs. 1089
crore in the quarter ended December 2009 to Rs. 1647 crore in the
quarter ended December 2010.
Profit before tax, during the quarter under review, grew by 177% from Rs.
25.41 crore recorded in December 2009 to Rs. 70.29 crore in the current
quarter. Profit after tax grew by 137% from Rs. 23.54 crore in the
previous comparable quarter to Rs. 55.75 crore in the quarter under
review.
Cumulative profit after tax for nine months ended December 2010 grew at
128% from Rs.66.20 crore to Rs.150.90 crore. The directors have declared
an interim dividend of Re. 0.50 per share on the enhanced capital of
Rs.47.51 crore as compared to Re. 0.70 per share on the then capital of
Rs. 23.75 crore.
Total two-wheeler sales of the company grew at 39% in the third quarter,
increasing from 3.72 lakh units in the third quarter of the previous
year to 5.18 lakh units in the current quarter.
Motorcycle sales grew at 40% from 1.51 lakh units in the quarter ended
December 2009 to 2.11 lakh units in the reporting quarter. Scooters
continued its upward growth, increasing by 64% from 0.76 lakh units in
the quarter ended December 2009 to 1.24 lakh units in the current
quarter.
Two wheeler exports registered 17% growth with sales increasing from
43,696 units in the quarter ended December 2009 to 51,394 units in the
current quarter.
The company's three wheeler sales during the quarter grew 212% from
3,225 units in the quarter ended December 2009 to 10,079 units in the
quarter ended December 2010.
At the end of the quarter under review, PT TVS Motor Company Indonesia
sold 14,809 units (April '10 to December '10) in comparison with 10,448
units (April '09 to December '09) registering a growth of 42% over the
same period of the previous year. Expansion of dealerships has been a
key focus area and the company has added two new provinces to the
existing thirteen. Upgraded models of TVS RockZ and TVS Apache will be
launched in the fourth quarter. With improved sales network and product
portfolio, PT. TVS is expected to vastly improve its performance in
2011-12.
TVS Wego has won the prestigious "Scooter of the Year Award" at the
recently concluded CNBC TV18 Overdrive Awards 2011, NDTV Car and Bike
Awards 2011, Bike India Awards 2011 and Business Standard Motoring
Awards 2011. Eminent panels of jury members including auto enthusiasts
and industry experts chose TVS Wego on merits of its design elegance,
engine efficiency, smoothness of handling and ride quality.
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