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TVS Motor Company Q4 profit misses expectations, rises 31% to Rs 1.66 bn

Press Trust of India/New Delhi 16 May 18 | 04:40 PM

Chennai-based TVS Motor Co on Wednesday reported 30.63 per cent jump in standalone net profit to Rs 1.6561 billion for the March quarter riding on robust sales growth.

The company had posted a net profit of Rs 1.2677 billion in the year-ago period, TVS Motor said in a BSE filing.

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Its revenue from operations during the fourth quarter of last financial year ended March 31, 2o18 stood at Rs 39.9276 billion. It was at Rs 30.7602 billion in the same period of 2016-17.

Sales were at 8,89,141 units during the quarter under review, as against 6,74,870 units in the year-ago period, up 31.74 per cent, it said.

Motorcycle sales grew by 61.1 per cent to 3.46 lakh units in fourth quarter of 2017-18 as against 2.15 lakh units in the same quarter a year ago.

Scooter sales were at 2.80 lakh units as compared to 2.23 lakh units, a growth of 25.5 per cent.

The company's total exports grew by 45.3 per cent to 1.61 lakh units in the fourth quarter of 2017-18 as compared to 1.11 lakh units in the year-ago period.

TVS Motor Co said its board has not recommend any further dividend for the last fiscal year as two interim dividends have already been declared earlier aggregating to Rs 3.30 per share (330 per cent) on a share of Re 1 each.

For 2017-18, standalone profit was at Rs 6.6259 billon as against Rs 5.5808 billion in 2016-17 -- a growth of 18.72 per cent.

Standalone revenue from operations for FY18 was at Rs 154.7288 billion. In FY17, it was at Rs 131.9006 billion.

The TVS Motor stock closed 1.66 per cent down at Rs 611.05 on BSE.

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