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Our Bureau

Chennai, July 27 TVS Motor Company has reported a net profit of Rs 7.55 crore for the April-June quarter compared with Rs 21.26 crore in the corresponding quarter of last year.

The company has attributed the 64 per cent decline in net profit to the slowdown in the two-wheeler industry, a consequence of reduce availability of finance, and higher costs of raw materials.

Motorcycle sales were lower at 1,50,487 units compared with 2,33,614 units.

Turnover was Rs 783 crore against Rs 921 crore, a decline of 14 per cent.

Indeed, cost of raw materials as a percentage of sales was higher at 71.17 per cent against 66.35 per cent.

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