TVS Motor Company recorded a turnover of Rs. 746.60 crores in the first quarter that ended in June 2005 compared to Rs. 618.07 crores achieved in the corresponding year last year. Profit Before Tax (PBT) was at Rs. 36.08 crores compared to Rs. 42.01 crores last year and Profit After Tax (PAT) stood at Rs. 24.90 crores compared to Rs. 27.18 crores achieved during the same period last year. The company sold 3,07,425 two wheelers in the first quarter that ended in June 2005 registering a growth of 21.1 per cent. According to a statement issued by the company, motorcycles recorded a sale of 176,580 units, indicating a growth of 27.75 per cent. Scooterettes recorded a sale of 62,562 units, recording a growth of 14.1 per cent and mopeds recorded a sale of 68,283 units and a growth of 12.3 per cent.
TVS Motor Companys profit for the quarter was lower due to high material costs involved especially in steel and additional cost required to meet new emission norms. With the softening of steel prices and improved sales, the profits will improve in future.
During the beginning of the first quarter, TVS Star crossed the 1-lakh mark after it completed its phased national launch. The proposed three new projects including the three-wheeler (Himachal Pradesh) and Indonesian ventures are progressing as per the schedule, company sources said.