TVS Motor, Trent & Tubes Invest results

CORPORATE SCORECARD

TVS Motor Company recorded a profit after tax of Rs 28.23 crore in the third quarter of 2004-05, higher by 3 per cent in relation to the previous year's profit of Rs 27.50 crore.

Net sales grew by 20 per cent to Rs 815.23 crore against Rs 681.93 crore registered last year. Exports in the third quarter stood at Rs 30.18 crore compared with the year ago period's Rs 17.80 crore.

The company's press release said the growth in net profit in the quarter was checked by a high marketing spend and high input cost.

Total two-wheeler sales in the third quarter of 2004-05 was 3,22,412 units, higher by 18 per cent in relation to the previous year's 2,74,094 units.

Sale of motorcycles in the third quarter stood at 2,03,245 units, up by 25 per cent compared with 1,62,596 units sold last year. In the third quarter the company launched TVS StaR in North India, a 4-stroke entry level vehicle.

Trent net dips 1.70% to Rs 5.18 cr

Trent, owners of Westside apparel departmental stores, has reported a 1.70 per cent decline in net profit to Rs 5.18 crore during the third quarter ended December 31, 2004 compared with Rs 5.27 crore in the corresponding period last year.

Net sales rose 66.8 per cent to Rs 70.12 crore in the three months ending December 31, 2004 against Rs 42.02 crore in the third quarter ending December 31, 2003.

Other income declined from Rs 3.25 crore to Rs 1.58 crore during the period under review. Total expenditure increased from Rs 38.27 crore to Rs 64.07 in the third quarter of FY 2005, on account of the launch of Star India Bazaar hyper market in Ahmedabad.

In order to part finance the company's expansion plans, the board of directors has approved the issue of partly convertible debentures with warrants aggregating to Rs 118.1 crore on a rights basis.

In other words, for every 10 equity shares of Trent held, the shareholders will be entitled to one partly convertible debenture(PCD) of a face value of Rs 900 each.

For the nine months ending December 31, 2004, it reported a net profit of Rs 12.13 crore on a turnover of Rs 171.11 crore. Net profit stood at Rs 13.10 crore on a turnover of Rs 114.78 crore in the nine month period ending December 31, 2003.

Tubes Invest net up 78% to Rs 26.48 crore

Tube Investments of India Ltd part of the Rs 5,200 crore Murugappa group reported a 77.6 per cent jump in net profit to Rs 26.48 crore for the quarter ending December 31, 2004 compared with Rs 14.91 crore for the same period last year.

The company's total turnover registered a growth of 18.23 per cent to Rs 331.84 crore for the third quarter in 2004-05 compared with Rs 280.67 crore the corresponding period the last year.

There was a fall in staff cost to Rs 16.69 crore in third quarter of 2004-05 from Rs 22.11crore for the same period last year.