Buoyed by an overall impressive performance, TVS Motor has reported a 58% growth in its net profit for the fourth quarter ended March 2014 to R52 crore, compared with R33 crore in the same quarter last fiscal.
The sales during the quarter grew 21% to R2,156 crore, against R1,775 crore in the same quarter last fiscal.
For the full year of FY14, the net profit grew 126% to R262 crore, against R116 crore in the previous fiscal.
The total revenue increased by 11% to R7,962 crore, compared with R7,169 crores in the year ended March 2013, a company statement on Tuesday. Profit from operations grew by 38% to R351 crore, against R254 crore in the year ended March 2013. The company attributed to the better performance owing new launches and upgrades across the scooter and motorcycle segments.
During the fourth quarter, motorcycles sales increased from 1.85 lakh units to 1.97 lakh units in the fourth quarter of 2013-14 while scooters sales rose from 95,000 units to 1.37 lakh units. Three-wheeler sales increased from 14,000 units in the fourth quarter of the previous year to 21,000 units in the fourth quarter of 2013-14.
For the FY14 fiscal, the overall two-wheeler sales, including exports were at 19.93 lakh units as compared to 19.95 lakh units for the year ended March 2013.