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TVS Motor Q4 profit rises 31%
Posted on 17th May 2018
Buoyed by an impressive 32% growth in volume, TVS Motor has reported a 31% growth in its net profit for the fourth quarter ended March 31, 2018 to Rs 165.61 crore, compared with Rs 126.77 crore reported in the same quarter last fiscal. For the full year, taking advantage of the 18% growth in volume, coupled with better per unit realisation, the profit after tax grew 19% to Rs 662.59 crore as against Rs 558.08 crore in the previous fiscal, a company press release said on Wednesday. PBT during Q4 grew 43.3% to Rs 192.10 crore compared with Rs 134 crore.

With the total sales jumping sharply to 34.66 lakh units for the full year under review as compared to 29.27 lakh units in the previous fiscal, the total revenue (excluding excise duty/ GST) grew 24.7% to Rs 15,129.66 crore compared with Rs 12,135 crore. For the fourth quarter, The Q4 revenue shot up 40.4% to Rs 3,993.76 crore against Rs 2,844.50 crore in the same quarter of last fiscal, thanks to the 30% growth in two-wheeler sales, which grew to 8.6 lakh units against 6.6 lakh units in the same quarter last fiscal.

During the year, the firm strengthened its presence in the motorcycle and scooter segments with the launch of TVS Apache RR 310, TVS NTORQ 125 CC and TVS Apache RTR 160 4V and refreshed product portfolio.

According to the company, the overall two-wheeler and three-wheeler sales grew by 31.7% from 6.75 lakh units in the fourth quarter of 2016-17 to 8.89 lakh units in Q4 of 2017-18. Motorcycle sales grew 61.1% from 2.15 lakh units in Q4 of 2016-17 to 3.46 lakh units and scooter sales grew 25.5% from 2.23 lakh in Q4 of 2016-17 to 2.80 lakh.

For the full year, the overall two-wheeler sales, including exports grew 17.8%, increasing from 28.58 lakh units registered in 2016-17 to 33.67 lakh units in 2017-18.

Related Companies: TVS Motor Company   

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Posted on 16th August 2018
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Mercedes-Benz to hike prices by up to 4% in September
Posted on 16th August 2018
German luxury carmaker Mercedes-Benz today said it will hike prices of its vehicles across models by up to 4 per cent from September to offset adverse impacts of rising input costs and upward forex movement.

The rising inflation due to geo-political dynamics, coupled with rising input costs and increasing forex rates has been exerting significant pressure on overall operations, Mercedes-Benz India said in a statement.


GOVT SANCTIONS 500 POSTS FOR FSSAI
Posted on 16th August 2018
With food regulator FSSAI facing manpower shortage, the government has sanctioned an additional 493 posts for the authority to discharge its responsibility effectively for ensuring safe and nutritious food to people.

The Food Safety and Standards Authority of India (FSSAI), which currently has 356 sanctioned posts, will now be able to conduct food safety inspections, besides law enforcement for central licensees directly instead of being fully dependent on the states.


TELECOM COMM TO DISCUSS TRAI'S PROPOSAL FOR SPECTRUM ALLOCATION
Posted on 16th August 2018
The Telecom Commission, apex decision making body at the telecom department, is likely to meet on August 31 to discuss Trai's recommendation on spectrum allocation, according to official sources.

"The next Telecom Commission meeting is proposed for August 31," an official source said without disclosing agenda of the meeting.


Maruti Suzuki hikes prices by up to 6,100
Posted on 16th August 2018
New Delhi: Country’s largest carmaker Maruti Suzuki India (MSI) on Thursday hiked prices of its vehicles by up to 6,100 in order to partially offset increase in commodity and distribution costs and adverse foreign exchange rates.

The price change varies across models and is up to 6,100 (ex-showroom Delhi), the company said in a statement.


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