CHENNAI: TVS Motor Company has reported a profit before tax of Rs. 29.09 crore for the fourth quarter ended March 2006, down from Rs. 47.92 crore in the same quarter last year. The profit before tax for the quarter under review stood at Rs. 41.04 crore (Rs. 63.24 crore).

The revenue for the fourth quarter, however, was higher at Rs. 860.62 crore (Rs. 770.39 crore).

The company recorded a profit before tax of Rs. 168.45 crore in 2005-06 compared to Rs. 200.45 crore recorded last year. The profit after tax stood at Rs. 117 crore compared to Rs. 137.57 crore.

The company achieved a 12 per cent rise in turnover at Rs. 3,305.96 crore during 2005-06, against Rs. 2,955.21 crore.

The annual and fourth quarter profit before tax of 2004-05 includes a one-off item of Rs. 36.94 crore, being the reduction in liability consequent to pre-payment of a deferred sales tax loan, says a release from the company. The material cost in 2005-06 was significantly higher than in 2004-05 on account of stringent emission norms coupled with the rising cost of aluminium, steel, rubber and plastics. The increase amounted to around Rs. 97 crore.

The total two-wheelers sold during 2005-06 were 1.34 million units, up from 1.17 million units in 2004-05. The sale of motorcycles stood at 8.06 lakh units during the year under review against 6.79 lakh units in the previous year. The company exported 78,644 units in 2005-06 compared to 48,560 units in the previous year.

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