As part of leveraging its presence in the two-wheeler industry,bike manufacturer TVS Motor Company,which reported a strong financial performance for 2010-11,would introduce a new motorcycle and a scooter this year,a senior company official said. "During this year,we are planning to introduce a motorcycle and a scooter," a senior company official said. However,he declined to elaborate on the motorcycle and scooter,saying it was "too premature". He attributed their performance to their strong brand portfolio. "We began on a strong portfolio of products. Most importantly ours is a strong brand. Moreover,we have strong dealership network in the length and breath of this country. We were able to leverage with our presence",he said. Besides,he said the company was also mulling tapping the overseas market. "We are already exporting our products to over 50 countries.In fact last year we entered Latin America. It is because we did not have our presence there. We want to leverage our presence in overseas market," he said. Last year,the Chennai-based two-wheeler manufacturer began exports of motorcycles to Mexico and Brazil. In 2010-11,the company exported 2.39 lakh units compared to 1.65 lakh units in 2009-10 reporting a 45 per cent growth over the previous year. He also hinted at upgrading the present models across all segments. The sales of three wheeler business was also expected to increase with the product being made available across the country. On their Indonesian subsidiary PT TVS Motor Company Indonesia,the firm said it has sold over 50,000 two-wheelers. During 2010-11,PT TVS sold around 20,000 units compared to around 15,000 sold the previous year. The company said it would introduce a 'super bebek' with high tech engine during 2011-12. The company has also planned to target markets outside Indonesia and has also planned to increase its network to 240 outlets by March 2012. TVS Motor Company today reported an over two-fold jump in standalone net profit for quarter ending March 31,2011 to Rs 41.68 crore. The company had posted a net profit of Rs 20.29 crore for the same quarter of previous fiscal. For the financial year 2010-11,the standalone net profit grew from Rs 88.01 crore reported in 2009-10 to Rs 192.58 crore registered during the period 2010-11.
