Chennai-based TVS Motor Co has reported 16.34 per cent increase in standalone net profit at Rs 154.25 crore for the third quarter ended December 31, riding on robust sales growth.
The company had posted a standalone net profit of Rs 132.67 crore in the year-ago quarter, TVS Motor said in a BSE filing today.
Revenue from operations was at Rs 3,684.95 crore during the quarter under review. In the same quarter previous fiscal, the figure stood at Rs 3,239.55 crore.
The company said its revenue from operations for the third quarter is net of GST but in the comparable period previous year, it was inclusive of excise duty. Hence the two figures are not comparable.
During the quarter ended December 2017, overall two-wheeler sales, including exports, grew 13.8 per cent to 7.99 lakh units from 7.03 lakh units in the year-ago period.
Motorcycle sales were up 26.7 per cent to 3.14 lakh units in the third quarter compared with 2.48 lakh units in the same period last fiscal. Scooter sales also increased to 2.69 lakh units from 2.21 lakh units in the same period last fiscal, a growth of 21.6 per cent.
Three-wheeler sales posted a growth of 67.7 per cent to 26,968 units in the quarter under review. Total exports of two and three-wheelers in the third quarter stood at 1.40 lakh units against 99,000 units in the year-ago period, registering a growth of 41.4 per cent, TVS Motor said.
Shares of TVS Motor Co were down 0.81 per cent at Rs 713.90 on the BSE.