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TVS Lanka records 60 percent growth

TVS Lanka, an automotive company, specialising in motor cycles, scooters, three-wheelers, spare parts and lubricant business recorded a groundbreaking performance surpassing all key performance indicators significantly during the financial year of 2014/2015.

"Performance in 2014/15 was very significant and in fact a major turnaround with Rs. 2.7 billion revenue growth which accounts to 60% growth over the previous year. PBT has grown three times over the corresponding year," said Chief Executive Officer, TVS Lanka, Ravi Liyanage. "The company has now entered into the league of over Rs. 1 billion revenue per month in the new financial year. With this turnaround performance main product lines two-wheelers and three-wheelers have contributed almost equally, making the business model more sustainable," he said.

Strategic initiatives during the year reaped rich rewards. Re-positioning and rationalisation of product portfolio, identifying and targeting strategic market segments, re-launching of five models with new value proposition for better consumer engagement, productivity enhancement and expansion of dealer network, re-structuring of islandwide service and spare parts network, competency enhancement of Staff and Sales force in particular, process re-engineering and Customer Relationship Management to enhance net promoter's score from existing users paid dividends, addedLiyanage.

"The innovative five new product launches had gained an overwhelming consumer response. These new entries included, probably Sri Lanka's most stylish scooter TVS Scooty Zest 110cc with state-of-the-art technology such as econo power meter, telescopic suspension, more spacious, tubeless tyres, easy centre stand, LED break light and with four colour variations," said Head of Marketing, TVSL, Hashan Haputhanthri.

TVS Metro 110cc bike to up-scale the entry category, TVS King Fully Loaded (FLD) with 35 customisd modifications, TVS King Max made out of cberglass r-enforced plastic where the final product is environment-friendly, TVS King Fun Bread (FB) to empower SMEs in Sri Lanka," he said.

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