TVS Q3 net profit rises 1.4% at Rs.57 cr.

Two-wheeler major TVS Motor Company today reported 1.40 per cent rise in standalone net profit for the quarter ended December 31, 2011, at Rs 56.53 crore.

The company had posted a net profit of Rs 55.75 crore in the corresponding period last financial year, TVS Motor Company said in a filing to the BSE.

The total income during the third quarter also increased by 7.02 per cent to Rs 1,762.22 crore from Rs 1,646.65 crore in the year-ago period, it added.

During the quarter, the company's total vehicle sales rose marginally to 5.19 lakh units from 5.18 lakh units in the same period previous year.

The company saw its scooter sales climbing by 11.29 per cent to 1.38 lakh units, while the same for motorcycle segment declined by 8.53 per cent to 1.93 lakh units, the filing said.

The three-wheeler sales dipped by 11.71 per cent to 8,899 units, it added.

However, two-wheeler exports during the hree-month period went up by 23.83 per cent to 63,700 units.
Besides, the company's Indonesian operations recorded sales of 4,033 two-wheelers, up 6.13 per cent.

Reacting to the results, shares of the company were trading 0.98 per cent up at Rs 51.40 apiece on the BSE during afternoon trade.