TVS net up 33% in 2014-15, revenue cross Rs 10,000 cr mark on growing demand for its products
Indian two wheeler major TVS Motor witnessed a growth of 33 percent in net profit in the financial year 2014-15 at Rs 347.83 crore compared to Rs 261.63 crore reported in the year ended March 2014.
The company achieved a milestone by crossing Rs 10,000 crore mark in revenue as it grew by 26.8 percent to Rs 10,098.22 crore in 2014-15 from Rs 7,965.94 crore in the previous fiscal.
TVS Motor’s net profit during the fourth quarter ended March 2015 surged by 38 percent to Rs 90.52 crore year-on-year from Rs 52.12 crore recorded in the corresponding quarter last fiscal. Its revenue during the period increased by 13.8 percent to Rs 2,456.85 crore from Rs. 2159.79 crore.
During the fourth quarter ended March 215, motorcycles sales increased to 2.21 lakh units from 1.97 lakh units sold in the same period a year ago. Scooters sales jumped to 1.66 lakh units from 1.37 lakh units while two wheeler exports grew to 83,000 units from 67,000 units. Three wheeler sales too surged to 26,901 units from 21294 units. The company has several models both in motorcycles and scooters like Jupiter, Wego and Scooty for the Indian market
In the fiscal 2014-15, the overall two-wheeler sales including exports increased to 24.09 lakh units from 19.93 lakh units registered in the year 2013-14. Motorcycle sales during the fiscal year increased to 9.51 lakh units from 7.86 lakh units while scooter sales increased to 7.00 lakh units from 4.74 lakh units. Three wheeler sales of the company increased to 1.08 lakh units from 0.80 lakh units in the previous year. TVS Motor’s total exports stood at 4.13 lakh units, up from 3.09 lakh units.
During the period, the company’s Indonesian subsidiary PT TVS Motor Company Indonesia registered total sales of 23,348 units, up from 19,191 units sold in the previous fiscal.
As a future outlook, the company said it will roll out two new motorcycles in the current year including TVS Victor and a high performance premium bike.