TVS Motors has registered a net loss of Rs1391cr during the quarter ending June 2020 (Q1FY21), compared to the net profit of Rs142.3cr in the similar quarter of the previous year. Meanwhile, the company posted revenue of Rs1434.3cr in the latest period against Rs4469.8cr a year ago same quarter.
TVS Motors in its financial audit report said, “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 reflects what was an unprecedented situation.”
In the latest period, TVS’s overall two-wheeler sales including exports was 2.55 lakh units as against sales of 8.84 lakh units reported in the quarter ended June 2019. Motorcycles registered sales of 1.19 lakh units versus sales of 4.17 lakh units of Q1FY20. Scooter sales for the quarter registered sales of 0.82 lakh units as against sales of 2.95 lakh units in the quarter ended June 2019.
Further, 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. Meanwhile, three-wheelers registered sales of 0.12 lakh units in Q1FY21 as against sales of 0.40 lakh units in the quarter ended June 2019.
“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 stabilise operations by end June.”
At around 1.36 PM, the TVS stock was performing at Rs405.65 per piece higher by 0.87% on Sensex. The stock has touched an intraday high and low of Rs407.95 per piece and Rs385.70 per piece respectively.