TVS Motor Company has reported a revenue growth of 19.3% for the quarter ended June 2017. Total revenue grew to INR 3,799.81 crores in the quarter ended June 2017 from INR 3,184.35 crores in the quarter ended June 2016.
The Company’s Profit Before Tax (PBT) registered a growth of 11.6% to INR 179.44 crores in the first quarter of 2017-18 from INR 160.82 crores in the first quarter of the previous financial year. Profit After Tax (PAT) increased by 6.8% to INR 129.47 crores in the quarter under review from INR 121.25 crores in the corresponding period last year. The above profits are after provision of INR 16.50 Cr being additional discount offered to dealers for pre GST stocks held by them on June 30, 2017 for selling vehicles at revised prices post GST introduction.
During the quarter ended June 2017, the overall two-wheeler sales of the Company including exports grew by 12% to 7.85 lakh units in the quarter ended June 2017 from 7.01 lakh units in the quarter ended June 2016. Motorcycles sales grew by 16.8% to 3.30 lakh units in the quarter ended June 2017 from 2.83 lakh units registered in the first quarter of 2016-17. Scooter sales increased to 2.58 lakh units in the first quarter of 2017-18 from 1.96 lakh units in the first quarter of 2016-17 registering a growth of 31.2%.
The Company exported 1.11 lakh units of two wheelers in the quarter under review as against 0.89 lakh units in the first quarter of 2016-17 registering a growth of 23.7%. Three wheelers registered sales of 17037 units in the quarter under review as against 17,337 units in the first quarter of 2016-17.
The Company successfully migrated to the post GST era. All extended supply chain partners have also migrated to GST and there was no disruption in the supply chain. The Company has passed on the benefit of GST and price of all products were appropriately reduced. The price reduction is in the range of Rs. 350 to Rs. 1,500 in the commuter segment. In the premium segment, the prices were reduced up to Rs. 4,150 depending on State level taxes in the pre-GST period.