TVS Motor back in the black, reports PAT of `53 cr in Q1

In Q1 of FY22, the overall two-wheeler and three-wheeler sales including exports registered 6.58 lakh units as against 2.67 lakh units in the corresponding quarter last fiscal.

By:July 30, 2021 9:17 AM

TVS Motor Company on Thursday reported a profit after tax (PAT) of `53 crore for the first quarter of FY22 against the loss of `139 crore in the corresponding quarter of last fiscal on the back of increased sales volumes. The company recorded a revenue of `3,934 crore against `1,432 crore, registering an increase of 175%.

The two and three-wheeler manufacturers reported Ebidta of `274 crore for the first quarter as against negative Ebidta of `49 crore in the corresponding quarter last fiscal. Ebitda margin was at 7% against a negative margin of 3.4%. During the quarter, the company incurred `30 crore towards Covid-19 related expenses and the same was shown as an exceptional item, TVS Motor said in a release.

TVS had reported a net profit of `289 crore in the fourth quarter of FY21, recording a growth of 292% as against `74 crore in the corresponding quarter last fiscal, recording the highest ever profit in a quarter. During Q4 of FY21 operating Ebitda stood at 10.1% while it had clocked a revenue of Rs 5,322 crore.

“The reduction in revenue and Ebitda from the preceding quarter is mainly on account of lockdowns in key markets. With the gradual opening of markets, the company is optimistic about the domestic and international demand coming back to normalcy,” the company said.

In Q1 of FY22, the overall two-wheeler and three-wheeler sales including exports registered 6.58 lakh units as against 2.67 lakh units in the corresponding quarter last fiscal. Motorcycle sales registered 4.05 lakh units as against 1.19 lakh units while scooter sales were at 1.40 lakh units against the sales of 0.82 lakh units. The company recorded the highest two-wheeler exports in this quarter at 2.90 lakh units as against 0.70 lakh units. Three-wheeler sales were at 0.39 lakh units as against 0.12 lakh units.

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