TVS Motor Company has posted a 96 per cent jump in net profit in the second quarter at Rs 88.8 crore, compared with Rs 45 crore in the year-ago period.
Total income from operations stood at Rs 1,988 crore for the quarter, compared to Rs 1,712 crore in the September quarter in the last financial year, an increase of 16.1 per cent. Sales improved 4.1 per cent from 481,533 units in the second quarter of FY13 to 501,425 units for the three months ended September.
Total two-wheeler sales expanded marginally by two per cent, from 469,000 units in Q2 of FY13 to 479,000 units during the quarter under review.
The company said motorcycle sales grew 18 per cent from 167,000 units in the quarter ended September 2012 to 197,000 units in the September quarter in 2013. Scooter sales, however, indicated a marginal drop as they fell from 119,000 units to 116,000 units on a year-on-year basis.
Two-wheeler exports grew from 48,000 units during the three months ended September 2012 to 61,000 units in the same quarter this year.
Three-wheeler sales, too, increased from 12,000 units to 23,000 units.
During the second quarter of FY14, the company also divested its majority stake in TVS Energy Ltd, which along with its two subsidiaries ceased to be subsidiaries of TVS Motor with effect from August 16.
During the quarter, the company also launched a new scooter - the TVS Jupiter.