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TVS Motor Company clocks revenue growth of 6% in Q2

EBITDA increases to 9.3 per cent in Q2.

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CHENNAI: TVS Motor has reported revenue of Rs 4,617 crore in the second quarter of 2020-21 as against Rs 4,353 crore in the second quarter of 2019-20, registering a growth of 6 per cent.

The two-wheeler maker’s PBT before exceptional items has grown by 14 per cent at Rs 267 crore during this quarter as against Rs 234 crore during the quarter ended September 2019. In the second quarter of last year, the company had reported a one-time exceptional gain of Rs 76 crore resulting in PBT after exceptional item of Rs 310 crore.

During the quarter, it reported profit after tax (PAT) of Rs 196 crore. Despite Covid19 challenges, the company strengthened its supply chain during the second quarter of 2020-21. The production and sales improved consistently from July 2020 onwards. In the month of July 2020, the total two-wheeler sales was 2.44 lakh, it improved to 2.77 lakh in the month of August 2020 and in September 2020 sales further improved to 3.13 lakh. In the month of September 2020 sales grew by 4.2 per cent. Total two-wheeler sales of 8.34 lakh for the quarter is almost in line with last year's second quarter number of 8.42 lakh. Two-wheeler export sales grew by 7.8 per cent compared to Q2 of last year.

Motorcycles registered sales of 3.66 lakh units in the quarter ended September 2020 as against sales of 3.42 lakh registered in the quarter ended September 2019. Scooter sales of the company for the quarter registered sales of 2.70 lakh as against sales of 3.33 lakh in the quarter ended September 2019.

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Total three wheelers registered sales of 0.33 lakh units in the quarter ended September 2020 as against sales of 0.43 lakh in the quarter ended September 2019. Half-year results are not true reflection of the demand since Q1 of 2020-21 got severely impacted due to COVID lockdown.

The total two-wheeler sales of the company for the half-year ended September 2020 is 10.90 lakh units as against 17.26 lakh units recorded in the half-year ended September 2019. The total three-wheeler sales for the half-year ended September 2020 is 0.45 lakh units as against 0.83 lakh units registered in the half-year ended September 2019.

The total export of two and three wheelers for the half-year ended September 2020 is 2.96 lakh units as against 4.20 lakh units in the half-year ended September 2019. Total revenue in the half-year ended September 2020 is Rs 6,051 crore against Rs 8,823 crore in the half-year ended September 2019. PBT before exceptional items for the half-year ended September 2020 is Rs 78 crore as against Rs 443 crore in the half-year ended September 2019.

During last year, the company had reported a one-time exceptional gain of Rs 76 crore resulting in PBT after exceptional item of Rs 519 crore. During the half-year ended September 2020 the company reported Profit After Tax of Rs 57 crore.

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