TVS Motor Company reported overall two-wheeler sales, including exports, of 8.84 lakh units during the quarter ended June 2019, compared to 8.93 lakh units recorded during the corresponding quarter of the previous year, despite an overall industry decline of 9.7 per cent.
Motorcycle sales registered growth of 7.8 per cent, rising to 4.17 lakh units in the first quarter of FY 2019-20 from 3.87 lakh units in the same quarter of FY 2018-19. Scooter sales also increased by 2.4 per cent to 2.95 lakh units, compared with 2.88 lakh units in the year-ago period.
The company’s exports grew by 10 per cent during the quarter under review, reaching 2.09 lakh units against 1.90 lakh units in the corresponding quarter of the previous financial year.
Three-wheeler sales posted an 11.1 per cent increase, with total sales rising to 0.40 lakh units from 0.36 lakh units during the same period last year.
Financially, TVS Motor Company reported revenue growth of 7.2 per cent for the first quarter of FY 2019-20. Total revenue increased to ₹4,469.8 crore compared with ₹4,171 crore reported in the quarter ended June 2018.
The company’s EBITDA rose by 10.8 per cent to ₹355.8 crore during the quarter, compared with ₹321.2 crore in the corresponding quarter of the previous year. EBITDA margin improved from 7.7 per cent in Q1 FY2018-19 to 8 per cent in the latest quarter.
Profit Before Tax (PBT) for the quarter stood at ₹208.5 crore, slightly lower than ₹212.4 crore reported in the same period last year. Profit After Tax (PAT) declined marginally to ₹142.3 crore from ₹146.6 crore recorded in the quarter ended June 2018.
