Chennai-based TVS Motor Company on Monday reported a 5.5 per cent decline in consolidated net profit at Rs 151.24 crore for the first quarter ended June 30.
The company had posted a consolidated net profit of Rs 160.05 crore in the same quarter a year ago, TVS Motor Co said in a regulatory filing.
Consolidated total income during the quarter under review stood at Rs 5,026.27 crore as against Rs 4,626.15 crore in the year-ago period, it added.
The company’s total expenses during the period were higher at Rs 4,793.40 crore as compared to Rs 4,385.50 crore in the corresponding period a year ago.
TVS Motor Co’s overall two-wheeler sales, including exports, stood at 8.84 lakh units during the quarter ended June 2019, lower than 8.93 lakh units in the year-ago period, it said.
Motorcycle sales in the first quarter grew by 7.8 per cent to 4.17 lakh units as against 3.87 lakh units registered in the quarter ended June 2018.
Scooter sales also grew by 2.4 per cent to 2.95 lakh units from 2.88 lakh units in the same quarter last fiscal, the company added.
Total three-wheeler sales grew 11.1 per cent 40,000 units in the quarter from 36,000 units in the quarter ended June 2018.
Shares of TVS Motor Co on Monday ended at Rs 379.65, down 4.12 per cent from the previous close on the BSE.