Millennium Post

TVS Motor reports 41% dip in profit to `45 crore

Two and three-wheeler manufacturer TVS Motor Company has reported over 41 per cent decline in its Profit After Tax for the second quarter ending 30 September 2012.

The Chennai-based company registered PAT at Rs 45 crore for the July-September quarter, down by 41.5 per cent, from Rs 77 crore registered during the same period last year.

The group revenues dipped 15 per cent to Rs 1,691 crore, during the quarter, as against Rs 1,991 crore registered during the same period of last year.Sales of motorcycles declined to 1.67 lakh units for the second quarter of the 2012-13 fiscal, as against 2.41 lakh units registered in the comparable period last year.

The company also witnessed a decline in sales of scooters at 1.19 lakh units for the quarter, from 1.59 lakh units registered during the same period of last year.On the exports front too, the company reported a slump.
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