[ad_1]
TVS Motor Company registered internet lack of Rs. 139.07 crore within the first quarter of FY’21 ended June 2020. In comparability, the corporate had registered revenue after tax of Rs. 142.three crore in the identical quarter final 12 months.
View Photos
TVS reported a internet lack of Rs. 139.07 crore in Q1 FY’21
TVS Motor Company has reported a internet lack of ₹ 139.07 crore within the quarter ended June 2020 of FY’21. In the identical quarter final 12 months, the corporate had reported revenue after tax of ₹ 142.three crore. In the quarter underneath evaluation, the corporate’s income dropped by a large 67.96 per cent to ₹ 1,434.three crore from ₹ 4,469.Eight crore final 12 months. The firm stated that this explicit quarter isn’t a consultant quarter as gross sales and manufacturing have been on full halt for a big period of time. The state of affairs, attributable to the lockdown on account of Coronavirus pandemic was unprecedented.
Also Read: TVS Says Business Environment Will Continue To Be Challenging This Fiscal
Even by way of gross sales, the corporate noticed steep declines. The firm’s general two-wheeler gross sales together with exports was 2.55 lakh models throughout quarter ended June 2020 as in opposition to gross sales of 8.84 Lakh models reported within the quarter ended June 2019. TVS Motor Company registered motorbike gross sales of 1.19 lakh models in Q1 FY’21 in opposition to gross sales of 4.17 lakh models registered in the identical quarter final 12 months. The scooter gross sales of the corporate for the quarter stood at 0.82 lakh models in comparison with 2.95 lakh models in Q1 FY’20. Total exports stood at 0.81 lakh models within the quarter in opposition to 2.09 lakh models in the identical quarter final 12 months. TVS offered a complete of 0.12 lakh models of three-wheelers when in comparison with 0.40 lakh models offered in the identical quarter final 12 months.
0 Comments
In a press release, TVS Motor Company stated, “The market is now open barring selective local lockdowns. We are witnessing a positive uptake in both domestic retails as well as international markets. Several measures taken by the company helped it to overcome supply chain disruptions and stabilise operations by end of June.”
For the most recent auto information and critiques, observe carandbike on Twitter, Facebook, and subscribe to our YouTube channel.
[ad_2]
Source