Earnings

TVS Motor Company reports 45% fall in Q4FY20 YoY, net profit at Rs 74 crore

Updated : May 28, 2020 04:44 PM IST

The company's overall two-wheeler and three-wheeler sales including exports in Q4FY20 were at 6,32,920 units as against 9,07,306 units in Q4FY19.

On Thursday, shares of TVS Motor Company ended 2.77 percent higher at Rs 332.15 on the BSE.

Two and three-wheeler manufacturer TVS Motor Company on Thursday reported a 45 percent decline in net profit for the quarter ending March 2020 to Rs 74 crore dragged by one-time loss of Rs 32.3 crore. The company had posted a net profit of Rs 134 crore in the same period last year. However, net profit was above CNBC-TV18 analysts' poll estimates of Rs 72.5 crore.

Total revenue from operations during the quarter fell 20.6 percent to Rs 3,481.4 crore as compared to Rs 4,384 crore due to a sharp plunge in sales volume.

The company's overall two-wheeler and three-wheeler sales including exports in Q4FY20 were at 6,32,920 units as against 9,07,306 units in Q4FY19.

EBITDA declined 20.5 percent to Rs 245 crore versus Rs 308 crore, while EBITDA margin remained stable at 7 percent.

During March 2020, the company incurred Rs 32.33 crore towards COVID-19 related expenses which it as an exceptional item.

"The company has provided Rs 22 crore towards onetime additional discount to liquidate BS-IV vehicles during end March 2020 and the same is netted off against the revenue reported in the current quarter," the company said in an exchange filing.

The BS-VI vehicles launched by the company are attractive and feature-rich across its wide portfolio comprising scooters, motorcycles and mopeds. The products have been well received and the customer retails of these vehicles have already started, the company added.

During the year, the company also strengthened its product portfolio by launching TVS iQube Electric and Ethanol based TVS Apache 200 Fi, it said.

On Thursday, shares of TVS Motor Company ended 2.77 percent higher at Rs 332.15 on the BSE.

TVS Motor Company reports 45% fall in Q4FY20 YoY, net profit at Rs 74 crore

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