TVS net profit surges 137%

Buoyed by an impressive performance across all segments coupled with sustained growth, two-wheeler major TVS Motor Company has reported a healthy 137% growth in net profit for the third quarter ended December 31, 2010 to Rs 55.75 crore as against Rs 23.54 crore during the same quarter of last financial year.

The revenue during the quarter under review shot up 51% to Rs 1,647 crore as compared to Rs 1,089 crore during the same quarter of last financial year. The profit before tax, during the quarter under review, grew by 177% from Rs 25.41 crore to Rs 70.29 crore in the current quarter. Cumulative profit after tax for nine months ended December 2010 grew at 128% from Rs 66.20 crore to Rs 150.90 crore.

Total two-wheeler sales of the company grew at 39% in the third quarter, increasing from 3.72 lakh units in the third quarter of the previous year.