TVS Motor Company, India's third largest two-wheeler brand by volumes, has posted a 33 per cent increase in its net profit at ₹177 crore for the quarter ended September 30, 2016, when compared with ₹133 crore in the year-ago period, aided by a strong operating performance on account of good growth in revenues. A strong increase in other income also helped the bottomline growth.

Profit before other income, finance costs and exceptional items grew by 20 per cent at ₹ 204 crore when compared with ₹ 170 crore in the year-ago period, according to a company statement.

Other income doubled to ₹39 crore when compared with ₹19 crore in Q2 of the previous fiscal. Its profit before tax (PBT) registered a growth of 31 per cent to ₹ 234 crore in Q2 of this fiscal, as against ₹ 178 crore in the second quarter of the previous financial year.

The company’s total revenues grew by 21 per cent at ₹ 3,726 crore as against ₹ 3,089 crore in Q2 of the previous fiscal.

During the quarter ended September 2016, the overall two-wheeler sales, including exports, grew by 23 per cent to 7.95 lakh units as against 6.46 lakh units. Motorcycles sales grew by 30 per cent to 3.32 lakh units as against 2.55 lakh units, while scooter volumes increased to 2.29 lakh units when compared with 2.18 lakh units, posting a growth of five per cent.

Three-wheelers fell to 20,401 units when compared with 32,922 units in the second quarter of 2015-16.

For the half-year ended September 30, 2016, profit after tax grew by 28 per cent to ₹ 299 crore as against ₹ 233 crore in the same period a year ago. Total revenue stood at ₹ 6,874 crore as against ₹ 5,888 crore in the half-year ended September 2015, posting an increase of 17 per cent.

The board has declared an interim dividend of ₹ 1.25 per share (125 per cent) for 2016-17.

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