The company’s profit have been hit due the provision of Rs 16.50 crore being an additional discount that was offered to dealers for pre GST stocks held by them on June,30 2017 for selling vehicles at revised prices post GST introduction.
11 Aug 2017 | 4802 Views | By Autocar Pro News Desk
Domestic two-wheeler major TVS Motor, has reported revenues of Rs 3,800 crore in Q1 FY 2017-18 (Q1 FY2016-17: Rs 3,184 crore), an increase of 19.3 percent.
The company’s profit before tax (PBT) came at Rs 179 crore for Q1 FY18 an increase of 11.6 percent (Q1 FY17: Rs 160.82 ...
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Domestic two-wheeler major TVS Motor, has reported revenues of Rs 3,800 crore in Q1 FY 2017-18 (Q1 FY2016-17: Rs 3,184 crore), an increase of 19.3 percent.
The company’s profit before tax (PBT) came at Rs 179 crore for Q1 FY18 an increase of 11.6 percent (Q1 FY17: Rs 160.82 crores), profit after tax (PAT) increased by 6.8 percent translating to Rs 129 crore (FY17: Rs 121.25 crores).
The company’s profit have been hit due the provision of Rs 16.50 crore being an additional discount that was offered to dealers for pre GST stocks held by them on June,30 2017 for selling vehicles at revised prices post GST introduction.
In Q1 FY18 the company sold 785,000 vehicles (including exports) (FY17: 700,100 units) an increase of 12 percent. In Q1 FY18 the company sold 330,000 motorcycles a growth of 16.8 percent (FY17: 283,000), scooter sales increased to 258,000 units (FY17: 196,000) a growth of 31.2 percent.
The Company exported 111,000 units of two wheelers in the quarter under review as against 89,000 units in the first quarter of 2016-17 a growth of 23.7 percent. While TVS sold 17,037 Three-wheelers in Q1 FY18 (Q1 FY17: 17,337 units).