On the back of “consistent growth across all segments”, TVS Motor posted a 46 per cent rise in net profit for the first quarter ended June 30, 2011. Net sales for the quarter rose 25 per cent to Rs 1707 crore.
The company board has declared a second interim dividend for the year 2010-11 of 60 paise ( 60 per cent) per share. The aggregate dividend for the year 2010-11 including the first interim dividend is 110 per cent on a post bonus capital of Rs 47.51 crore compared to 120 per cent on a pre-bonus capital of Rs 23.75 crore in the previous year (2009-10).
Total two-wheeler sales of the company grew at 16.3 per cent in the first quarter of the current fiscal to 5.35 lakh units compared with 4.6 lakh units in the corresponding period of the previous year. Motorcycles sales grew at 10.3 per cent to 2.24 lakh units (2.03 lakh). Scooters grew at 25.3 per cent to 1.19 lakh units.
Two- wheeler exports registered a 36.4 per cent growth with sales increasing to 0.78 lakh units (0.57 lakh units). Three-wheeler sales during the quarter grew by 52.4 per cent to 12167 units (7979 units).
During the quarter, PT TVS Motor Company Indonesia registered total two wheeler sales of about 7,035 units (5,694 units). Exports accounted for 2,503 units. The product portfolio of the company continued to receive good response from consumers in the region, said the company in a release.
“The recently launched 150 cc Tormax has been very well received by the market and is likely to increase the sales of the company.”