TVS Motor Co reports net profit of Rs 196 crore for Q2 FY2021

Chennai-based two- and three-wheeler maker, TVS Motor Company has reported its financial result for Q2 FY2020. For the quarter the company reported revenue of Rs 4,617 crore (6%) as against Rs 4,353 crore for the same period a year ago. The profit after tax (PAT) came at Rs 196 crore, lower by 23 percent YoY.

The company says despite the Covid-19 challenges, it strengthened its supply chain during the second quarter of 2020-21. The production and sales improved consistently from July 2020 onwards. In July the company sold 2.44 lakh two-wheelers, which improved to 2.77 lakh units in the month of August, and in September sales further improved to 3.13 lakh units. During the quarter the total two-wheeler sales was 8.34 lakh units, which is almost in line with last year sales of 8.42 lakh units.

The Q2 sales include 3.66 lakh motorcycles (Q2 FY2020: 3.42 lakh motorcycles) and 2.70 lakh scooters (Q2 FY2020: 3.33 lakh scooters).

In terms of three-wheelers, the company sold 0.33 lakh units in the quarter ended September 2020 as against sales of 0.43 lakh units in the quarter ended September 2019.