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TVS Motors
TVS Motors

TVS Motor profit declines 23% to 196 cr for Sept quarter

  • The company’s Q2 revenues are at 4,617 crores, up 6% YoY on 4,353 crore from Q2 last fiscal
  • TVS Motor had secured sales of 8.34 lakh two-wheelers in Q2FY21, as against sales of 8.42 lakh units in Q2 last fiscal, including export shipments

Mumbai: TVS Motor Company Ltd has reported a 23% YoY decline in its profit at 196 crore as vehicle sales remained below last year’s volumes during the September quarter. The company’s net profit has, however, beaten Bloomberg estimate of the same at 179.40 crore for the quarter.

The company’s Q2 revenues are at 4,617 crores, up 6% YoY on 4353 crore from Q2 last fiscal. TVS Motor had secured sales of 8.34 lakh two-wheelers in Q2FY21, as against sales of 8.42 lakh units in Q2 last fiscal, including export shipments. The company said two-wheeler export volumes grew 7.8% in Q2 YoY.

TVS Motor’s motorcycle and scooter sales were in line with that of the domestic two-wheeler industry, which recorded 8% growth in motorcycle sales along with a 16% dip in scooter volumes in Q2.

The company saw its bike sales at 3.66 lakh units in the September quarter, up 7% YoY on 3.42 lakh units sold during the year-ago period. Scooter sales of the company in Q2 were at 2.7 lakh units as against 3.33 lakh scooters sold in Q2 last fiscal.

Meanwhile, the three-wheeler volumes during the past quarter stood at 0.33 lakh units as against 0.43 lakh units in the year-ago period.

“Despite covid-19 challenges, the company strengthened its supply chain during the second quarter of 2020-21. The production and sales improved consistently from July 2020 onwards," TVS Motor said in a note.

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