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Home arrow News arrow Auto component arrow Wabco-TVS net profit up 22 % at Rs 34.15 crore
Wabco-TVS net profit up 22 % at Rs 34.15 crore Print E-mail
Written by Vijay   
Friday, 29 July 2011
Mumbai: Wabco-TVS has registered a 22.01 per cent increase in net profit for the first quarter ended June 30, 2011 at Rs 34.15 crore. The company had posted a net profit of Rs 27.99 crore during the corresponding quarter last year.

The company will soon change its name to Wabco India, in line with the agreement with TVS after Wabco took majority stake in the company. Wabco acquired 35.83 per cent stake from TVS Group promoters in 2009.

The company eyes more export business as it is becoming a key manufacturing and sourcing hub for its parent company Wabco Vehicle Control Systems, a leading global supplier of safety and control systems for commercial vehicles.

Total income during the first quarter also increased by 21.05 per cent to Rs 244.99 crore from Rs 202.38 crore in the year-ago period.

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