New Delhi: TVS Motor Company on Thursday reported a consolidated loss of INR 14.7 crore during April-June 2021 as against a loss of INR 182.7 crore in the same period last year.
Total income increased to INR 4,692 crore in the first quarter as against INR 1,946.35crore in the same period of the financial year 2019-20, TVS Motor Company said in a regulatory filing.
On a standalone basis, the company reported profit after tax (PAT) of INR 53 crore as against loss of INR 139 crore during the first quarter of 2020-21. Operating revenue stood at INR 3,934 crore for the quarter ended June 2021 as against INR 1,432 crore reported in the quarter ended June 2020.
The Company reported EBITDA of INR 274 crore for the first quarter of 2021-22 as against negative EBITDA of INR 49 crore in first quarter of 2020-21. Company’s EBITDA margin for the quarter is at 7.0% as against the negative margin of 3.4% reported in the first quarter of 2020-21.
“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,” TVS said in a statement.
The automaker’s overall two-wheeler and three-wheeler sales including exports registered 6.58 Lakh units in the quarter to June 2021 as against 2.67 Lakh units registered in the quarter ended June 2020.
Motorcycle sales registered 4.05 Lakh units in the quarter ended June 2021 as against 1.19 Lakh units in the quarter ended June 2020. Scooter sales for the quarter ended June 2021 is 1.40 Lakh units against the sales of 0.82 Lakh units in the first quarter of 2020-21.
The company recorded the highest two-wheeler exports in this quarter at 2.90 Lakh units as against 0.70 Lakh units in the quarter ended June 2020. Three-wheeler sales for the quarter under review were 0.39 Lakh units as against 0.12 Lakh units during the first quarter of 2020-21, TVS said.