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TVS Motor Co, India's No. 3 two-wheeler maker, said on Thursday it posted a 40 percent rise in net profit, riding on an increase in sales during the festival season and said it was confident of achieving a growth of over 15 percent in the current year. TVS, which makes the Flame and Apache range of motorcycles, said it expects to sell over 200,000 vehicles per month in Nov. and Dec.

Stand-alone revenue rose 23.2% to Rs. 1,991.8 crore from a year earlier and 14.1% from the June quarter. Price hikes boosted net average realization by 6.3% from a year ago. This is almost in line with the 6.8% growth in realization seen in the country’s largest motorcycle maker, Hero MotoCorp Ltd. Bajaj Auto Ltd’s realizations grew by only 3.8% during the same period.

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