Chennai-based 2/3-wheeler manufacturer TVS Motor Company on Thursday informed BSE that it has recorded a net profit of INR 53 crore in the last quarter ended on June 30th, 2021, compared to a loss of INR 139 crore in the same quarter previous year.
During the quarter, the company's operating revenue was INR 3,934 crore against INR 1,432 crore reported during the same period last year. The revenue almost doubled because of the good performance in international markets.
The reduction in revenue from the preceding quarter is mainly on account of lockdowns in key markets. However, with the gradual opening of markets, the company is optimistic about the domestic and international demand coming back to normalcy.
The company reported Profit Before Tax (PBT) before exceptional items of INR 102 crore in the period under review against a loss of INR 190 crore in the first quarter of FY21.
During the quarter, the company incurred INR 30 crore towards COVID-19 related expenses, and the same is shown as an exceptional item.
The overall 2/3-wheeler sales, including exports, registered 6.58 lakh (2.67 lakh units) units in the quarter.
Motorcycle sales registered 4.05 lakh units against 1.19 lakh units, and scooters sold 1.40 lakh units against 0.82 lakh units. The company recorded the highest two-wheeler exports in this quarter at 2.90 lakh units against 0.70 lakh units in the quarter ended June 2020.
Three-wheeler sales for the quarter under review is 0.39 lakh units against 0.12 Lakh units during the first quarter of 2020-21.