TVS Motor Company's total auto sales surged 183.31% to 1,66,889 units in May 2021 as against 58,906 units in May 2020.
Sequentially, the company's total auto sales dropped 30.17% in May 2021 over April 2021.
Domestic sales in May 2021 was lower due to lockdowns in many states, but retails continued to be ahead of despatch. The company has reduced dealer stocks to support its dealers and channel partners and will produce to maintain adequate inventories for customer demand. It expects that the pent-up demand will return as markets begin to reopen.
Total two-wheelers registered sales stood at 1,54,416 units in May 2021 as against 56,218 units in May 2020, registering a growth of 174.67% Y-o-Y (year-on-year). Motorcycle registered sales was at 1,25,188 units in May 2021 as compared to 26,772 units in May 2020, recording a 367.60% jump Y-o-Y. Scooter sales of the company soared 21.75% to 19,627 units in May 2021 from a sales of 16,120 units in May 2020. Domestic two-wheeler volumes spurted 26.82% to 52,084 units in May 2021 over 41,067 units in May 2020.
TVS Motor Company's total exports registered sales grew 547.61% to 1,14,674 units in the month of May 2021 as against a sale of 17,707 units in May 2020. Two-wheeler exports registered sales of 1,02,332 units in May 2021 as against 15,151 units in May 2020, translating to a 575.41% rise Y-o-Y. The demand in the international market continued to be robust.
Three-wheeler of the company registered sales of 12,473 units in May 2021 as against sales of 2,688 units in May 2020, registering a growth of 364.02% Y-o-Y.
The company's standalone net profit surged 292% to Rs 289 crore in Q4 FY21 from Rs 74 crore in Q4 FY20. Revenue from operations grew 53% at Rs 5,322 crore during the period under review.
TVS Motor Company, part of the TVS Group, is a two and three-wheeler manufacturer.
Shares of TVS Motor Company lost 0.35% to Rs 612.90 on BSE. The scrip traded in the range of Rs 610.60 to Rs 627.60 so far.
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