Mumbai, Aug. 9: Two and three wheeler manufacturer Tvs motor Friday reported slightly increased 1.50% of its net profit, which stood at Rs. 51.87 lakh for the first quarter of the current fiscal.
The company reported a net profit of Rs. 51.10 rupees in the corresponding period of the previous fiscal.
The total revenue of the company based on the Hosur, however, dropped by 4.82% to Rs. 1 crore in the quarter 760.18, reporting from Rs. 1, 849.38 crore in the same period, 2012-13.
"The company reported higher profits in the first quarter of the current fiscal year, despite lower revenues," the company said in a statement.
Motorcycle sale dipped 1.85 percent to 10.19 lakh units from 2.06 lakh units, while scooter sales fell 18.33 percent to 0.98 lakh units from 1.20 lakh units.
Exports continued to suffer from the global economic downturn. As a result, two-Wheeler deliveries fell by 14.75 percent to 0.52 lakh units from 0.61 lakh units.
"Tricycles quarterly sales witnessed increase of 66.9% quantum sales, increased from 9.367 units in the quarter ended June 2012 15.634 units in the quarter ended June, 2013," the statement said.
In the second quarter, the company will launch a new scooter, while it plans to introduce updated versions of televisions and Television star Scooty city during the current fiscal year.
The company added that its Board of Directors approved a firm majority in televisions to strip energy, a subsidiary of the company, which is subject to fulfilment of certain conditions associated with them.
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