TVS Motor Company Q1 Net Profit Slips 3 Per Cent At Rs. 142 Crore

TVS Motor Company, a leading manufacturer of two- and three-wheelers in India has reported its first quarter financial results of the 2018-19 Financial Year. The company reported revenue of ₹ 4,469.8 crore which grew by 7 per cent from ₹ 4,171 crore in the quarter ended June 2018. EBITDA (Earnings before interest, tax, depreciation and amortization) for the quarter ended June 2019 is at ₹ 355.8 crore, compared to ₹ 321.2 crore for the quarter ended June 2018, a growth of 10.8 per cent. Profit After Tax for the quarter ended June 2019 slipped 3 per cent to ₹ 142.3 crore, as against ₹ 146.6 crore in the same quarter a year ago.

During the first quarter of the current financial year (April to June, 2019), TVS sold 8.84 lakh two-wheelers in both domestic and international markets, as against 8.93 lakh units reported in the same period last year. Motorcycle sales in the first quarter of FY2019 rose by 7.8 per cent to 4.17 lakh units from 3.87 lakh units, while scooter sales grew by 2.4 per cent to 2.95 lakh units from 2.88 lakh units. TVS Motor Company’s exports remained strong with total exports of the company growing by 10 per cent to 2.09 lakh units during the quarter ended June 2019 from 1.90 lakh units in the quarter ended June 2018.

In June 2019, TVS Motor Company registered sales of more than 2.97 lakh units with sales slipping more than 6 per cent in the midst of a slowdown in the Indian automobile industry. Total two-wheeler sales of TVS stood at over 2.83 lakh, but motorcycle sales of TVS bucked the trend with sales of over 1.31 lakh in June 2019, an increase of 2 per cent over the 1.28 lakh units of motorcycles despatched in the same month a year ago.

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