TVS Motor Company’s revenue grows 12% in Q1 2016
TVS Motor Company has reported a revenue growth of 12% for the quarter ended June 2016. Total revenue grew to Rs. 2,880.94 crores in the quarter ended June 2016 from Rs. 2,574.09 crores in the quarter ended June 2015.
The Company’s Profit Before Tax (PBT) registered a growth of 23% to Rs. 160.82 crores in the first quarter of 2016-17 from Rs. 130.35 crores in the first quarter of the previous financial year. Profit After Tax (PAT) increased by 21% to Rs. 121.25 crores in the quarter under review from Rs. 100.08 crores in the corresponding period last year.
The Company has adopted the Indian Accounting Standards (Ind AS) from April 1, 2016 and these financial results have been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 – Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India.
During the quarter ended June 2016, the overall two-wheeler sales of TVS Motor Company, including exports grew by 15.3% to 7.01 lakh units in the quarter ended June 2016 from 6.08 lakh units registered in the quarter ended June 2015. Motorcycles sales grew by 11% to 2.83 lakh units in the first quarter of 2016-17 from 2.55 lakh units registered in the first quarter of 2015-16. Scooter sales increased to 1.96 lakh units in the first quarter of 2016-17 from 1.65 lakh units in the first quarter of 2015-16 registering a growth of 19%.
The Company exported 0.89 lakh units of two wheelers in the quarter under review as against 0.92 lakh units in the first quarter of 2015-16. Three wheelers registered sales of 17,337 units in the quarter under review as against 30,229 units in the first quarter of 2015-16.
