TVS Motor Company Limited reported an eight per cent year-on-year growth in two-wheeler sales, to 211,148 units in February 2016. The corresponding sales figure a year ago was 195,509 units.

Domestic two-wheeler sales grew by 11.4 per cent, increasing from 164,508 units in February 2015 to 183,199 units in February 2016.

TVS Motor company is expecting 16% market share in the two-wheeler segment next year, helped by robust sales of the newly-launched TVS Victor motorcycle.

The company, having 14% market share in the segment, is targeting to sell 25,000 units of TVS Victor per month this year. The motorcycle was relaunched in January after being discontinued in 2007.

Eight corporate jets which were submerged under flood water at Chennai airport in December are being written off as the damage is beyond repairs.

Insurance companies say that the aircraft parts will be sold for scrap to recover part of the costs. “The damages to the jets and its parts are severe and cannot be restored. Hence, we will have to dismantle and sell parts as scrap, though we will only be able to recover 20-30 per cent of the costs,” said chairperson and managing director of a large public sector general insurer which had exposure to these jets.

TVS Srichakra Limited (TSL) proposes to sell its entire shareholding in its subsidiary, TVS Europe Distribution Limited (EDL), in favour of TVS Automobile Solutions Limited, the company has informed exchanges.

The firm holds 33,25,000 shares held in TVS Europe Distribution and also proposes to purchase / acquire 15,89,699 compulsory convertible preference shares (CCPS) in TVS Automobile Solutions Limited (TVS ASL) amounting to Rs 40 crore.

Chennai: TVS Motor Co. Ltd on Friday reported a lower-than-expected 19.4% profit in the December quarter, crimped by expenses incurred on account of the November-December flooding in Chennai and a retrospective increase in employee bonuses.

The Chennai-based two-wheeler maker posted net profit of Rs.107.7 crore, compared with Rs.90.18 crore a year ago. The earnings fell below the estimate of Rs.124 crore in a Bloomberg survey.

TVS Motor company today reported 19.42% increase in net profit at Rs 107.7 crore for the quarter ended December 31.

The firm had posted a net profit of Rs 90.18 crore for the same period of previous fiscal.

TVS Motor Company has introduced two new bikes — 110cc Victor and 200cc Apache — aimed at strengthening its presence in the commuter and performance segments.

“We are launching these two significant bikes that are designed to get us significantly improved market share in motorcycle segment. We have spent about Rs.300 crore in developing the two bikes. Our products will meet not just Indian standards, but also global standards,” Venu Srinivasan, Chairman, TVS Motor Company said after unveiling the new bikes.

The TVS Apache RTR 200’s specifications and official images have been leaked ahead of its launch on January 20, 2016. The details of the new Apache 200 have been leaked in Indonesia, where as well the product will be launched the same day.

The TVS Apache RTR 200 will be powered by a 197.75cc, air-cooled, single-cylinder with with 4 valves. This engine, mated to a 5-speed gearbox, develops 20.23bhp at 8,500rpm and 18.1Nm at 7,000rpm. Weighing 148kg, the vehicle can achieve the 60kmph mark from standstill in 3.9 seconds at a top speed of 130kmph.

TVS Motor has withdrew its appeal on patent for a 'self locating ignition lock assembly', which is designed to help the driver or any other person to locate the ignition lock in the darkness using a fluorescent substance, from the Intellectual Property Appellate Board (IPAB).

The company said that it would continue to provide the feature where ever it is appropriate and others can also benefit from the claimed invention.

TVS Motor Company today reported a 4% increase in total sales at 2,02,086 units in December.

The Chennai-based company had sold 1,94,481 in the same month last year.

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