TVS reports sales decline in Q3

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  1. Car Lover

    Car Lover New Member

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    A combination of several factors including delayed monsoons, high interest rates and the overall subdued sentiment affected sales of the two wheeler industry. TVS Motor Company registered total two wheeler sales of 5.03 lakh units in the quarter ended 31st December 2012 against 5.19 lakh units in the previous comparable quarter.
    Motorcycles recorded sales of 1.97 lakh units in the third quarter of the current financial year against 1.93 lakh units registered in the previous comparable period. Scooter recorded sales of 1.12 lakh units in comparison to 1.38 lakh units in the corresponding quarter of the previous year. Two wheeler exports registered 0.50 lakh units in the current quarter against 0.64 lakh units in the quarter ended December 2011.
    Three wheeler sales for the quarter ended December 2012 stood at 13,602 units against 8,899 units in the quarter ended December 2011. During the quarter, PT TVS Motor Company Indonesia registered total two wheeler sales of 4,767 units in comparison with 4,033 units recorded in the same period of the previous year.
    TVS Motor Company has reported revenue of Rs.1799 crore for the quarter ended December 2012 compared to Rs.1775 crore recorded during corresponding quarter in the previous year. Profit before tax (PBT) for the quarter under review stood at Rs.67 crore against Rs.76 crore in the third quarter of the previous financial year. Profit After Tax (PAT) for the third quarter of the current year was Rs.52crore against Rs. 57 crore in the corresponding period last year.
    Profit for the quarter is marginally lower due to reduction in export incentives from 5.5% to 2% and investment behind brands. TVS Phoenix 125, which was launched in the December 2012 quarter, has been received well and the company hopes to consolidate gains of this motorcycle. The Directors have declared an interim dividend of Re 0.60 per share on the share capital of Rs.47.51 crore, absorbing a sum of Rs. 32.85 crore including dividend distribution tax for the year 2012-13.
     

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