TVS Motor reports consolidated net loss of Rs 15 cr in first quarter

TVS Motor Company on Thursday reported a consolidated net loss of Rs 15 crore for the first quarter ended June 30.

The company had reported a net loss of Rs 183 crore in the April-June quarter of the 2020-21 financial year.

Total income increased to 4,692 crore in the first quarter as against Rs 1,946.35 in the same period of the financial year 2019-20, TVS Motor Company said in a regulatory filing.

On a standalone basis, the company posted a net profit of Rs 53 crore during the first quarter. It had reported a net loss of Rs 139 crore in the April-June period of last fiscal.

TVS noted that its overall two-wheeler and three-wheeler sales including exports stood at 6.58 lakh units in the June quarter this year as compared with 2.67 lakh units in the quarter ended June 2020.

Motorcycle sales were at 4.05 lakh units as against 1.19 lakh units in the quarter ended June 2020. Scooter sales on the other hand stood at 1.4 lakh units in the April-June period this year as against 0.82 lakh units in Q1 of FY20.

The company said it recorded its highest-ever two-wheeler exports in this quarter at 2.9 lakh units. It had shipped 70,000 units in the June quarter of the financial year 2019-20.

Shares of the company on Thursday ended 2.48 per cent down at Rs 561.50 apiece on the BSE.