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TVS Motor Q4 net profit falls 19% at Rs 134 crore

Updated : April 30, 2019 04:38 PM IST

Chennai-based TVS Motor Company Ltd on Tuesday reported a 19 percent year-on-year (YoY) drop in net profit at Rs 134 crore for the fourth quarter ended March 2019.

In the corresponding quarter last year, the company posted a net profit of Rs 166 crore. CNBC-TV18 Polls had predicted a profit of Rs 135 crore for the quarter under review.

The company reported a growth of 9.2 percent with total revenue excluding excise duty/GST going up from Rs 4,016.8 crore in the fourth quarter of 2017-18 to Rs 4,387.6 crore in the fourth quarter of 2018-19.

EBITDA (Earnings before interest, taxes, depreciation, and amortization) for the quarter ended March 2019 is Rs 308.1 crore compared to Rs 295.2 crore for the quarter ended March 2018, a growth of 4.4 percent. EBITDA for the quarter is at 7.0 percent.

During the quarter ended March 2019, the overall two-wheeler and three-wheeler sales including exports grew from 8.89 lakh units in the quarter ended March 2018 to 9.07 lakh units. Motorcycle sales grew by 8.4 percent from 3.46 lakh units in the quarter ended March 2018 to 3.75 lakh units in the fourth quarter of 2018 - 19.

Scooter sales for the quarter ended March 31, 2019, is 2.71 lakh units against the sale of 2.80 lakh units in the fourth quarter of 2017-18. The company’s total export of two-wheelers and three-wheelers is 1.96 lakh units in the quarter under review against 1.61 lakh units in the quarter ended March 2018 registering a growth of 21.7 percent. Three-wheeler sales grew by 44.8 percent from 0.29 lakh units in the fourth quarter of 2017-18 to 0.42 lakh units in the quarter under review.

Shares of TVS Motor Company Ltd settled at Rs 486 apiece, down 4.03 percent on the BSE.

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