TVS Motor Company gains earnings upto Rs 1434 cr in Q1 FY 20-21
30 July, 2020 | newsx bureau
From the second week of May 2020, TVS Motor Company commenced operations classified across all of its factories in Hosur, Mysuru and Nalagarh. Throughout the quarter, both production and sales were...
TVS Motor Company resumed its operations from the second week of May 2020 in a graded manner across all its factories in Hosur, Mysuru, and Nalagarh. This quarter is not a representative quarter due to COVID-19 related shut down for major part of the quarter.
Both production and sales were severely impacted during the quarter and therefore reflect what an unprecedented situation it was. The market is now open barring selective local lockdowns. We are witnessing a positive uptake in both domestic retails as well as international markets. Several measures taken by the company helped it to overcome supply chain disruptions and stabilize operations by the end of June.
TVS Motor Company’s overall two-wheeler sales including exports was 2.55 lakh units during quarter ended June 2020 as against sales of 8.84 lakh units reported in the quarter ended June 2019. Motorcycles registered sales of 1.19 lakh units in the quarter ended June 2020 as against sales of 4.17 lakh units registered in the quarter ended June 2019. Scooter sales of the company for the quarter registered sales of 0.82 lakh units as against sales of 2.95 lakh units in the quarter ended June 2019.
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The total export of the company registered sales of 0.81 lakh units during the quarter ended June 2020 as against sales of 2.09 lakh units in the quarter ended June 2019.
Total three-wheelers registered sales of 0.12 lakh units in the quarter ended June 2020 as against sales of 0.40 lakh units in the quarter ended June 2019.
TVS Motor Company reported revenue of Rs 1434.3 crores in the first quarter of 2020-21 as against the total revenue of Rs 4469.8 crores in the quarter ended June 2019.
The company has reported a loss of Rs 139.1 crores for the quarter ended June 2020 as against profit after tax of Rs 142.3 crores reported for the quarter ended June 2019.
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