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TVS Motor gains after Nov sales grows 21% YoY

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TVS Motor Company was up 0.62% to Rs 502.45 after the company's total sales grew 21% year on year to 322,709 units in November 2020.

Total two-wheelers sales grew by 25% to 311,519 units in November 2020 over November 2019. Domestic two-wheeler sales posted a growth of 30% to 247,789 units in November 2020 over November 2019.

The company's total exports were flat at 74,074 units in the month of November 2020 as against 74,060 units in November 2019. TVS said the exports were adversely affected due to the unavailability of containers and impact on operations of Chennai port on account of Cyclone Nivar in the last week of November 2020.

The company's three wheeler sales fell 35% year on year to 11,190 units in November 2020 from 17,232 units in November 2019.

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

The company's consolidated net profit skid 29.4% to Rs 181.41 crore on 5.9% rise in net sales to Rs 5,254.36 crore in Q2 September 2020 over Q2 September 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, December 01 2020. 14:56 IST