Date:01/07/2008 URL: http://www.thehindu.com/2008/07/01/stories/2008070152411800.htm

Business

TVS Motor net dips

Special Correspondent

CHENNAI: TVS Motor Company, on Monday, reported revenue of Rs. 3,291 crore for the year ended March 31, 2008, down from Rs. 3,920 crore in the previous year. The profit before tax stood at Rs. 35.37 crore (Rs. 90.85 crore) and the profit after tax at Rs. 31.77 crore (Rs. 66.60 crore).

During the year under review, the company completed its product portfolio with the launch of TVS Flame in the executive segment. It also entered the three-wheeler segment with the launch of TVS King. The year marked the commencement of commercial production at its Nalagarh plant in Himachal Pradesh. The company also commenced commercial production at Karawang near Jakarta in Indonesia and successfully launched TVS Neo, the bebek, (exclusively developed for the Indonesian market), by its subsidiary PT TVS Motor Company.

“With various initiatives and a complete portfolio in two wheelers, the company is now in a better position to reverse the declining trend in sales and to report improved results,” says a release.