CHENNAI: Hit by negative growth of 1.7 per cent in its motor-cycles sales, two-wheeler major TVS Motor Company has posted a modest 8.2 per cent rise in net profit to Rs 138.40 crore in the year ended March 31, 2004, compared to previous year's Rs 127.95 crore.
Announcing this at a press conference here today, its chairman and managing director Venu Srinivasan said the company's total sales grew by 4.8 per cent to Rs 2856.42 crore, up from previous year's Rs 2725.40 crore.
The consolidated sales, after the transfer of engine components business of Lakshmi Auto Components into TVS Motor, stood at Rs 2882.87 crore in 2003-04, he said.
The company's motor-cycles growth showed a negative growth, compared to a 15 per cent rise in volume in the segment in 2003-04. ``This year, we will make up for the losses,'' said Srinivasan.
The TVS Motor Company has also declared two interim dividends totaling to 130 per cent for the year 2003-04.
Srinivasan said the company's TVS Centra - a 4-stroke 100 cc motorcycle launched last year, has clocked sales of over 70,000 units. ``We are expecting a surge in sales of Centra in the coming months, following an increase in advertising and marketing support,'' he said.
The year 2003-04 also saw the sales of TVS Motor vehicles crossing the one million mark for the second consecutive year. "The company has sold 1.14 million two-wheelers in the period," he said. |
