TVS Motor sales grows 27% MoM in July

TVS Motor Company registered a sales growth of 27% in July 2020 at 252,744 units compared with 198,387 units in June 2020.

The total sales are, however, lower by 9.6% compared with 2,79,465 units sold in July 2019.

The company's total two-wheeler sales declined by 8.2% to 243,788 units, while total three-wheeler sales tumbled 35% to 8,956 units in July 2020 over July 2019.

Total exports in July 2020 stood at 62,389 units, down by 10.9% from 69,994 units in July 2019.

On a consolidated basis, TVS Motors reported a net loss of Rs 179.37 crore in Q1 FY21 as against a net profit of Rs 146.40 crore in Q1 FY20. Net sales during the quarter tumbled 61.3% YoY to Rs 1939.65 crore.

While announcing its June quarter earnings on 29 July 2020, the company said that it had resumed its operations from second week of May 2020 in a graded manner across all its factories in Hosur, Mysuru, and Nalagarh.

It further 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.

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.

The company's overall two-wheeler sales fell 71.2% to 2.55 lakh units while total three wheeler sales slumped 70% to 0.12 lakh units in Q1 June 2020 over Q1 June 2019. Total exports during the June quarter stood at 0.81 lakh units, down by 61.2% from 2.09 lakh units exports in the same period last year.

TVS Motor Company is a two and three-wheeler manufacturer and is the flagship company of TVS group.

The scrip rose 1.21% to Rs 392.65. It traded in the range of 388.15 and 399.10 so far during the day.

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