By IANS,
Mumbai : Two-wheeler major TVS Motors Friday reported a 158 percent jump in its net profit to Rs.18.12 crore in the first quarter this fiscal as compared to Rs.7.02 crore in the like period last year.
The company’s first quarter revenues recorded a growth of 7 percent to touch Rs.988.7 crore as against Rs.924.45 crore recorded in the corresponding quarter last year, it said in a regulatory statement.
The total two-wheeler sales during the quarter stood at 350,273 units, a growth of 2 percent from 343,530 units sold in the year-ago period.
Three-wheeler sales grew three times to 2,223 units in the June quarter as compared to 765 units sold in April-June 2008.
“Exports, however, were affected in the first quarter of the current fiscal and registered lower sales of 32,067 two wheelers in comparison with 42,214 units recorded in the corresponding period of the previous year,” the company statement said.