India’s third largest two-wheeler manufacturer, TVS Motor Company has reported standalone revenues of Rs4,469 crore for Q1 FY20, thereby posting a year-on-year (Y-o-Y) growth of 7.22% on Q1 FY19, and 2% quarter-on-quarter (Q-o-Q) on Q4FY19.
TVS Motor’s Q1 FY20 standalone revenues are, however, lower than Bloomberg estimates, which stood close to Rs4,518 crore.
The company’s (standalone) profit after tax for Q1 FY20 stands at Rs142.30 crore as against Rs147 crore in Q1 FY19 and Rs134 crore in Q4FY19.
On the sales volume front, despite a decline TVS Motor Company’s Q1 FY20 sales performance has been better off as compared to the total two-wheeler industry and the other big players such as Hero MotoCorp and Honda Motorcycle & Scooter India (HMSI).
Its total quarterly wholesale stood at 711,632 units, down 3% Y-o-Y, as against an industry-wide decline of 12% Y-o-Y in Q1 FY20. Its two biggest rivals, Hero and Honda have posted a dip of 12.36% at 18,05,631 units and 21% at 13,43,579 units, respectively, during the first quarter of FY20.