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Kinetic Motor H1 net up 15%

Our Bureaus

PUNE, Oct. 29

TWO-WHEELER manufacturer Kinetic Motor Company Ltd announced on Monday the company has recorded higher revenues at Rs 211 crore in the first half of the current fiscal as compared to Rs 209 crore in the same period the previous year.

Net profit in the same period has increased 15 per cent from Rs 8.6 crore to Rs 9.9 crore and the company has declared an interim dividend of 25 per cent to its shareholders.

Sales in the second quarter of the current financial year dropped to Rs 120 crore from Rs 121 crore in the same period the previous year, but net profit went up to Rs 7.44 crore from Rs 6.57 crore in the previous year period.

Announcing the results, Ms Sulajja F. Motwani, Joint Managing Director, said the company has now consolidated its leadership position in the modern scooter segment and is now on a major growth initiative.

The company has added two new models to its portfolio of modern scooters -- the 75 cc Style and the 110 cc Y2Kinetic Zx Zoom and is now gearing up for the launch of a 65 cc scooterette and a four-stroke scooter in the next few months. -- Our Bureau