Moneycontrol
Last Updated : Jan 30, 2018 02:16 PM IST | Source: Moneycontrol.com

TVS Motor posts 16% rise in Q3 profit, revenue grows 23% on good sales volumes

Revenue from operations growth of 23.5 percent year-on-year at Rs 3,685 crore for the quarter, driven by sales volumes, was ahead of CNBC-TV18 estimates.

TVS Motor Company has reported a 16.3 percent growth year-on-year in profit at Rs 154.35 crore for quarter ended December 2017, driven by strong operational and revenue.

Profit for corresponding quarter was at Rs 132.67 crore, the company said.

Revenue from operations growth of 23.5 percent year-on-year at Rs 3,685 crore for the quarter, driven by sales volumes, was ahead of CNBC-TV18 estimates.

TVS Motor has registered a 15 percent volume growth led by strong rise in scooters and three-wheeler. It sold 8.26 lakh units in quarter gone by, against 7.18 lakh units sold in corresponding quarter.

Domestic volumes rose 10.5 percent YoY to 6.85 lakh units from 6.20 lakh units and export volumes climbed 41 percent to 1.40 lakh units from 98,657 units.

Motorcycle sales volumes in Q3 increased 27 percent year-on-year to 3.14 lakh units, from 2.47 lakh units; and scooter volumes jumped 21 percent to 2.69 lakh units from 2.21 lakh units.

Operating profit during the quarter shot up 31.3 percent to Rs 286.8 crore and margin expanded by 50 basis points to 7.8 percent compared to year-ago, which were largely in line with CNBC-TV18 poll of Rs 288 crore and 8 percent, respectively.

Tax expenses increased sharply 51 percent to Rs 56.01 crore in Q3, compared to Rs 37.13 crore in year-ago.

The current profit booking despite in line earnings suggested that the stock already digested numbers. The stock surged 17 percent during the quarter.

At 12:36 hours IST, it was quoting at Rs 706.85, down Rs 12.85, or 1.79 percent on the BSE.
First Published on Jan 30, 2018 12:40 pm
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