NITN | @notintownlive | 22 Aug 2017, 08:22 am
Total revenue grew to Rs. 3799.81 crores in the quarter ended June 2017 from Rs. 3184.35 crores in the quarter ended June 2016.
The Company’s Profit Before Tax (PBT) registered a growth of 11.6% to Rs. 179.44 crores in the first quarter of 2017-18 from Rs. 160.82 crores in the first quarter of the previous financial year.
Profit After Tax (PAT) increased by 6.8% to Rs.129.47 crores in the quarter under review from Rs.121.25 crores in the corresponding period last year.
The above profits are after provision of Rs.16.50 Cr being additional discount offered to dealers for pre GST stocks held by them on 30 th June, 2017 for selling vehicles at revised prices post GST introduction.
During the quarter that ended in 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.
Motorcycle 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 17337 units in the first quarter of 2016-17.
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.
Image: Official Facebook page of TVS.
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Amid the ongoing Middle East conflict, global flight operations continue to face disruptions, with limited services and rising airfares affecting travellers across several regions.
Air India on Tuesday announced a phased increase in fuel surcharges across its domestic and international network, citing a sharp rise in aviation fuel prices triggered by the ongoing conflict between Iran and the United States in the Middle East.
The Ministry of Civil Aviation on Monday said Indian carriers are planning to operate around 50 flights between India and the Middle East region amid ongoing tensions in the Gulf that have significantly disrupted flight movements.