TVS Motor Q2 net up 15 pc at Rs 256.88 crore

New Delhi: TVS Motor Co on Thursday reported a 15 per cent increase in consolidated net profit at Rs 256.88 crore for the second quarter ended September 30.

The Chennai-based company had posted a consolidated net profit of Rs 223.19 crore in the corresponding period last fiscal, TVS Motor Co said in a regulatory filing. Revenue from operations stood at Rs 4,960.27 crore in the second quarter as compared to Rs 5,466.94 crore in the year-ago period, down 9.27 per cent.

TVS Motor said its overall two-wheeler sales, including exports, were at 8.42 lakh units during the quarter ended September 2019 as against 10.49 lakh units in the same quarter last fiscal, a decline of 19.73 per cent. Motorcycle sales for the quarter under review were at 3.42 lakh units as against 4.20 lakh units in the year-ago period, down 18.57 per cent.

Scooter sales for the second quarter were at 3.33 lakh units as against 3.88 lakh units in the same period last fiscal, a decline of 14.18 per cent, the company said. Total exports grew 6 per cent to 2.11 lakh units in second quarter from 1.99 lakh units in the same period last fiscal, the company added.

In the first half (April-September) of the fiscal, consolidated net profit was at Rs 408.12 crore as compared to Rs 383.24 crore in the year-ago period, the company said. Revenue from operations in the first half of the ongoing fiscal stood at Rs 9,978.61 crore as against Rs 10,082.73 crore in the same period last fiscal. Total two-wheeler sales for the half-year ended September 2019 stood at 17.26 lakh units as against 19.41 lakh units in the year-ago period, down 11 per cent.

Exports of two and three-wheelers in the first six months of the fiscal stood at 4.2 lakh units as against 3.9 lakh units in the same period last year, a growth of 8 per cent, the company said.

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