TVS Motor has clocked a 31 per cent rise (year-on-year) in fourth quarter net profit at Rs 57.23 crore. Total income, however, dipped marginally to Rs 1,627 crore from Rs 1,635 crore in the previous corresponding quarter.
For the year ended March 31, 2012, profit after tax increased 28 per cent to Rs 249.07 crore. Total revenue grew 13 per cent to Rs 7,126 crore.
The company board has declared a second interim dividend of 70 paise a share, in addition to the declared interim dividend of 60 paise a share.
The total dividend works out to Rs 1.30 a share for the financial year ended March 31, 2012.
The outflow on account of this is Rs 61.77 crore apart from dividend tax of Rs 10.01 crore.
Sales growth
During the year, TVS Motor registered a growth of seven per cent in sales with overall two-wheeler sales growing from 20.03 lakh units in the previous financial year to 21.47 lakh units.
Motorcycle sales during the fiscal year increased marginally from 8.32 lakh units to 8.44 lakh units, while scooters grew 13 per cent to 5.25 lakh units in the current fiscal.
Three-wheeler sales of the company increased marginally from 39,257 units to 40,166 units. Exports for the year grew 23 per cent to 2.96 lakh units.
TVS attributes this performance to the product upgrades introduced during the just concluded financial year.
Products planned
During the year, PT TVS Motor Company, Indonesia, total two-wheeler sales grew 16 per cent to 23,066 units. PT TVS Motor Company, Indonesia, has over 70,000 customers.
TVS Motor Company has planned a series of product launches in 2012-13. An executive segment motorcycle will be launched in August.
The company will launch another motorcycle and a scooter in the last quarter of this year.
The company recently launched the 2012 edition of the Apache Series RTR.
While the industry is expected to grow at around 10 per cent, TVS expects to grow ahead of the industry this year, said the company in a press release.
Says Mr Abdul Majeed, Auto Practice Leader, PwC, “Given the high interest rates and fuel prices, two-wheeler industry is better placed than the passenger car industry.
“The most recent petrol price hike will prompt people to settle down for two-wheelers than cars.”
TVS Motor share price ended 1.52 per cent up at Rs 33.40, on the BSE on Thursday.