TVS Motor Co Ltd reported a 31 per cent growth in net profit for the third quarter compared with the corresponding period last year on the back of higher two-wheeler and three-wheeler sales.
The company reported a profit after tax of ₹68.8 crore for the October-December period, up from ₹52.45 crore a year earlier.
Total income stood at ₹2,057.6 crore, compared with ₹1,821.59 crore in the last corresponding quarter. Two-wheeler sales increased to 5.12 lakh units from 5.03 lakh units a year ago.
Motorcycle sales grew from 1.97 lakh units in the quarter ended December 2012 to 2.07 lakh units in the third quarter of the current fiscal. Scooter sales grew from 1.12 lakh units to 1.23 lakh units. Exports rose 22 per cent to 61,000 units from 50,000 units a year ago. Three-wheeler sales during the quarter grew 52 per cent to 20,701 units (13,602).
On the BSE, the company’s shares closed 4.57 per cent higher at ₹70.90, while the benchmark Sensex lost 0.18 per cent to 20,647.3.