Covid-19 Impact: TVS Motor Company reports loss of Rs 139 crore in Q1 FY21

During the last quarter, the overall two-wheeler sales by TVS Motor Company including exports stood at 2.55 lakh units in comparison to 8.84 lakh units reported in the quarter ended June 2019.

By:Published: July 30, 2020 12:28 PM

TVS Motor Company has announced its numbers for the last quarter. The company resumed its operations starting the second week of May 2020 across all its factories at Hosur, Mysuru, and Nalagarh. The company says that the production and sales were severely impacted during the quarter due to Covid-19 and therefore reflects what an unprecedented situation was. However, TVS is now witnessing a positive uptake in both domestic retails as well as international markets. The brand says that several measures were taken that helped it to overcome supply chain disruptions and stabilize operations by the end of June. Now coming to the numbers in terms of sales, TVS Motor Company’s overall two-wheeler sales including exports stood at 2.55 lakh units during quarter ended June 2020 in comparison to 8.84 lakh units reported in the quarter ended June 2019.

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In order to be specific, the motorcycle sales stood at 1.19 lakh units in the quarter ended June 2020 as against sales of 4.17 lakh units registered in the quarter ended June 2019. On the other hand, scooter sales for the quarter registered at 0.82 lakh unit sales as against 2.95 lakh units sold in the quarter ended June 2019. Talking of exports, the company registered sales of 0.81 lakh units during the quarter ended June 2020 compared to 2.09 Lakh units in the quarter ended June 2019.

Total three-wheeler sales stood at 0.12 lakh units in the quarter ended June 2020 against sales of 0.40 lakh units in the quarter ended June 2019. Speaking of the company’s revenue, TVS Motor Company posted a revenue of Rs 1434.3 crores in the first quarter of 2020-21 compared to the total revenue of Rs. 4469.8 crores in the quarter ended June 2019. In the last quarter, TVS Motor Company reported a loss of Rs. 139.1 crores against profit after tax of Rs 142.3 crores reported for the quarter ended June 2019.

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