TVS Q4 net profit jumps 31% to Rs 57.23 cr

The company had posted a net profit of Rs 43.68 crore in the corresponding period last year, TVS Motor Company said in a filing to the BSE. The standalone total income from operations in the fourth quarter, however, decreased marginally to Rs 1,627.17 crore from Rs 1,635.29 crore in the year-ago period, it added. During the quarter, the company's tax expenses went down 68.85 per cent to Rs 4.95 crore from Rs 15.89 crore. The company's Board of Directors has declared a second interim dividend of Re 0.70 per share for 2011-12. For the entire 2011-12 financial year, TVS Motor Company posted 3.18 per cent rise in its consolidated net profit at Rs 131.64 crore from Rs 127.58 crore in the previous fiscal. The consolidated total income from operations in FY'12 also went up by 13.40 per cent to Rs 7,419.84 crore from Rs 6,542.98 crore in FY'11. In the last fiscal, TVS Motor Company sold a total of 21.89 lakh vehicles compared to 20.43 lakh units in the previous fiscal, up 7.15 per cent. Exports increased 23.33 per cent to 2.96 lakh units for 2011-12 from 2.40 lakh units in 2010-11. Commenting on new product development, TVS Motor Company said it will roll out two new motorcycles in August and in the last quarter of this fiscal. "One new scooter will also be introduced during the last quarter of the current financial year," it added. Shares of the company today closed 1.52 per cent up at Rs 33.40 apiece on the BSE.