TVS Motor Company has tripled its net profit for the third quarter ended December 31, 2002, riding on the sales of its best selling four-stroke motorbike Victor.
Sales for the quarter was up 36 per cent to Rs 713.36 crore from Rs 523.42 crore for the same period last year.
The net profit rose from Rs 10.68 crore for the same quarter last year to Rs. 32.48 crore for the quarter under consideration.
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The quarter also saw the company achieve a volume growth of 23 per cent.
The company sold 2.88 lakh units during the third quarter and achieved motorcycle sales of 1.95 lakh units and scooterette sales of 0.36 lakh units.
Venu Srinivasan, chairman and managing director, said TVS Motor was able to achieve the topline and bottomline numbers piggybacking increased sales, cost reductions, value engineering and lower interest costs.