TVS Motor Company has reported chalked out a capex of about Rs 500 crore for the current fiscal. The capex will be spent across its three manufacturing locations i.e. Hosur, Mysore and Pantnagar (Himachal). Depending on the industry growth and new product launches, the company will appropriately boost the production capacity.
The company was hoping to record twice the industry growth during the current fiscal. Further, the company is expecting the scooter segment to sustain the growth momentum and is of the view that scooters will outgrow motorcycles for few more years.
The company has reported a fall of 6.81% in its net profit at Rs 126.77 crore for the quarter ended March 31, 2017 as compared to Rs 136.03 crore for the same quarter in the previous year. However, total income of the company increased marginally by 1.57% at Rs 3139.22 crore for quarter under review as compared to Rs 3090.77 crore for the quarter ended March 31, 2016.