TVS Motor Company, a major motorcycle company, reported record quarterly revenue and EBITDA in the September quarter, with net income increasing 42% to Rs 27.8 billion, compared to Rs 19.6 billion in the year-ago quarter.
The company has significant cost reduction initiatives and containers for increased product costs, international business and semiconductor shortages. The operating EBITDA margin for the quarter ended September 2020 was 10% compared to 9.3%. Profit before tax increased 41% to 377 chlores (267 chlores).
TVS Motor reported record revenues of 5,619 chlores (4,605 chlores) in the second quarter. This is a 22% growth.
The number of motorcycles sold was 87,000 rupees (834,000 rupees). Motorcycle exports increased 46% compared to the second quarter of last year. The number of motorcycles sold was 43,900 rupees (36,600 rupees), but the number of scooters sold was as low as 26,600 rupees (27,000 rupees). The number of tricycles sold was Rs 407,000 (Rs 0.33 million).
According to the statement, intensive working capital management and improved operating results allowed the company to generate operating free cash flow of Rs 109 billion.
Half year performance
After-tax profit of TVS Motors for the first half of the year, which ended on September 30, surged to 33.1 billion rupees, up from 5.7 billion rupees in the same period last year.
The total income was 9,554 chlores (6,037 chlores). The PBT before the exceptional item was 479 chlores (78 chlores).
The total number of motorcycles sold was Rs 148,800 (Rs 109,000). The number of tricycles sold was Rs. 80,600 (Rs. 40,000). The total export value of motorcycles and tricycles increased to Rs 643,000 (Rs 29,600).
TVS Motor reported record quarterly sales of £ 5,619 in the second quarter.
https://www.thehindubusinessline.com/companies/tvs-motor-reports-highest-ever-quarterly-revenue-of-5619-cr-in-q2/article37110207.ece TVS Motor reported record quarterly sales of £ 5,619 in the second quarter.