TVS Motor Company Reports Rs. 53 Crore Net Profit In Q1 FY 2022
- TVS Motor Company announces highest ever quarterly revenue from exports
- Net profit for the quarter is reported at Rs. 53 crore
- TVS optimistic about demand picking up in domestic & overseas markets
TVS Motor Company has reported sales of 6.58 units in the quarter ended June 2021, as against 2.67 lakh units registered in the quarter ended June 2020. However, it has to be kept in mind that the April to June 2020 quarter was in the middle of the first wave of the pandemic, followed by a countrywide lockdown. Motorcycle sales registered 4.05 Lakh units in the quarter ended June 2021 as against 1.19 Lakh units in quarter ended June 2020. Scooter sales for the quarter ended June 2021 is 1.40 Lakh units against the sales of 0.82 Lakh units in the first quarter of 2020-21. The Company recorded highest two-wheeler exports in this quarter at 2.90 Lakh units as against 0.70 Lakh units in the quarter ended June 2020.
Also Read: TVS Exports 27 Per Cent Sales Growth In June 2021
Exports of TVS bikes in the April to June 2021 quarter accounted for the highest-ever quarterly revenue
The company reported operating revenue of Rs. 3,934 crore for the quarter ended June 2021 (April to June 2021) as against Rs. 1,432 crore reported in the April to June 2020 quarter. Lockdowns in key markets hampered revenue and profits from the domestic market, but TVS seems to be doing fairly well in international markets. After Bajaj Auto, TVS is one of the biggest exporters of motorcycles from India, and the company said in a statement that the April to June 2021 quarter recoded the highest ever quarterly revenue from international markets.
Also Read: TVS iQube Sees Price Drop After FAME II Amendment
During the current quarter, TVS reported Profit After Tax (PAT) of Rs. 53 crore as against loss of Rs. 139 crore during first quarter of 2020-21. TVS reported Profit Before Tax (PBT) before exceptional items of Rs. 102 crore in the first quarter of 2021-22 as against loss of Rs. 190 crore in the first quarter of 2020-21. During the quarter, TVS Motor Company incurred Rs. 30 crore towards COVID-19 related expenses which has been reported as an exceptional item. With the gradual opening of markets, TVS Motor Company says it's optimistic about the domestic and international demand coming back to normalcy.
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