Q2 net profit of TVS Motor doubles
Two-wheeler maker TVS Motor Co has seen its net profit doubling in the second-quarter. This was possible due to higher sales and lowering of costs. “The product mix was better and the fixed costs as a percentage was lower,” said H.S. Goindi, President, Marketing, TVS Motor Co. Higher motorbike and three-wheeler volumes in the quarter drove sales and profits, he added.
According to Goindi, TVS Motor had taken a price hike of up to 1.5 per cent on various models in September and would take a call on another price hike during the current quarter. The company had posted a net profit of 547.8 million rupees in July-Sept this year.