TVS to introduce upgraded Apache,Scooty variants in few months

TVS to introduce upgraded Apache,Scooty variants in few months

TVS Scooty Pep+ is the flagship scooter of the two-wheeler manufacturer, while the TVS Apache motorcycle has won many awards since it was introduced in the above-150cc segment.

"We have planned to refresh two-wheelers. One will be the TVS Apache and the other the Scooty (segment)...," TVS Motor Company Vice-President (Marketing) H Goindi said.
The reason for launching the upgraded variants was the success of the existing models, which have been selling like hot cakes in the Indian market, he said.

"I can say they will be refreshing... For Apache, it will have the same name and the body," he said, but declined to give further details.

Riding on strong sales growth, TVS Motor Co today reported an over two-fold jump in profit after tax to Rs 55.75 crore for the quarter ended December 31, 2010.
TVS Motor's profit after tax in the corresponding quarter of the previous year was Rs 23.54 crore, the company said in a statement.

During the third quarter this fiscal, sales revenue grew by 51.23 per cent to Rs 1,647 crore from Rs 1,089 crore in the same period last fiscal.

Referring to the results, TVS Motor Company President and CEO K G Radhakrishnan said all the company's products are doing well and they aim to clock this "kind of growth" in coming quarters as well.

"All the products are doing well. Some are very good in some markets, some are good in the other markets. Definitely, we have seen a big change in terms of growth," he said.
He replied in the affirmative when asked whether prices might be revised, saying, "In addition to some marginal price increases, we are also looking to focus aggressively on cost reduction."

TVS Motor Company Executive Vice-President (Finance) S G Murali said the company was effecting price revisions every quarter, based on commodity rate trends.

"We are closely watching the position of the commodities. We feel (commodity) price will soften in the second half of next year," he said.

The company said its board has approved a 50 per cent interim dividend for the financial year ending March 31, 2011, translating into 0.50 paise per share of Re 1 face value each. This will translate into a total dividend payment of Rs 27.70 crore on 47.5 crore equity shares, including dividend distribution tax, it said.

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