TVS Motors posts Rs86.50 crore profit for FY10
22 Apr 2010
Robust demand along with a few new launches helped two-wheeler major TVS Motor Company register a 178 per cent increase in its net profit to Rs86.50 crore for the financial year ended 31March 2010, as against Rs31.10 crore during the previous fiscal. The total income was up 18.4 per cent to Rs4,424 crore as against Rs3,737 crore in the previous fiscal.
For the fourth quarter ended 31 March 2010, the company's net profit shot up 38 per cent to Rs20.29 crore as against Rs14.62 crore while total income stood at Rs1,216 crore on a growth of 34 per cent during the review period. During FY10, TVS Motor reported 13.3 per cent sales growth to 15.2 lakh units.
Even as motorcycle sales during the fiscal remained static at 6.4 lakh units, scooters sale increased 19.7 per cent to 3.1 lakh units. The company's three-wheeler sales rose substantitally from 4,613 units in the year ended March 2009 to 14,730 units in the financial year 2010.
Exports were on the recovery path starting November 2009 and were back to continuous growth figures from December 2009 onwards a trend expected to continue.
The company's operating profit before tax and exceptional item during the year ended March 2010 touched Rs122.28 crore (34.37 crore) while the profit before tax after exceptional item stood higher at Rs76 crore (Rs31 crore). Profit after tax stood at Rs86.50 crore (Rs31.1 crore).
Exports for the year were lower at 1.63 lakh units in 2009-2010 as against 1.96 lakh units in 2008-09. According to the company exports would rise substantially in 2010-11.