TVS Motor Company has posted a decline of 41% for the second quarter ended September 30, 2012, at Rs 45.19 crore as against Rs 76.51 crore for the same period of previous fiscal year. The total income from operations reported a decrease of 15.1%, to Rs 1,690.61 crore for the quarter as against Rs 1991.30 crore for the same quarter of previous fiscal year.
Lower sales was due to the overall sentiment of the industry, which showed a decline in growth to 5% in the second quarter from a growth of 19% in the same period of the previous year and 9% growth in the first quarter of the current year.
A weak economic scenario, high inflation, rising fuel prices, high interest rates and poor monsoons in South India has further affected sales, said a company announcement. However, retail sales for the festival season in October 2012 have been encouraging, it added.
Sales of motorcycles of TVS Motor was at 1.67 lakh units in the second quarter of the current fiscal year, as against 2.41 lakh units in the previous comparable period. The scooter sales posted a decrease to 1.19 lakh units in comparison to 1.59 lakh units in the corresponding period of last fiscal year. However, the three wheeler sales for the second quarter of this fiscal was at 12213 units as against 11699 unit in the second quarter of previous year.
Two wheeler exports registered 0.48 lakh units in the current quarter as against 0.76 lakh units in the quarter ended September 2011, added the company.