TVS Motor Company released its Q2 2019-20 results and the company's EBITDA grew 8.8 per cent from 8.6 per cent during the same time last year. Also, the total revenue reported for the quarter ended September 2019 is Rs. 4,352.7 Crores as against the revenue of Rs. 4,994.2 Crores reported for the quarter ended September 2018. The company's Profit Before Tax (PBT) for the quarter is Rs. 310.3 crore as against Rs. 306.2 crore reported in Q2 2018-19. The profit before tax of the current quarter includes an exceptional gain of Rs. 76.0 crores towards reversal of a National Calamity Contingent Duty (NCCD) provision for a Himachal plant pertaining to earlier years. This is pursuant to a favourable order from the Custom Excise Service Tax Appellate Tribunal (CESTAT). The Profit After Tax (PAT) for quarter ended September 2019 is Rs. 255 crore as against Rs. 211.3 crore reported for the quarter ended September 2018, which is a growth of 20.68 per cent.
As far as sales are concerned, TVS overall sales including exports were 8.42 lakh units in Q2 2019-20 as compared to 10.49 lakh units during the same time last year, which is a de-growth of 19.73 per cent. Motorcycle sales constituted of 3.42 lakh units as compared to 4.2 lakh units last year, showing a drop of 18.57 per cent. Similarly, the scooter sales too saw a drop of 14.18 per cent with 3.33 lakh scooters being sold in Q2 2019-20 as opposed to 3.88 lakh units sold last year. Total three-wheeler sales grew by 9 per cent to 0.43 lakh units in the quarter ended September 2019 from 0.40 lakh units in the quarter ended September 2018. The exports of the company also grew 6 per cent to 2.11 lakh units during Q2 2019-20 from 1.99 lakh units in the quarter ended September 2018.
Half-Yearly Results
The total two-wheeler sales of TVS for the half-year ended in September 2019 were 17.26 lakh units, which is a drop of 11.08 per cent where 19.41 lakh units were sold last year. The total export of two and three wheelers for the half-year ended in September 2019 is 4.2 lakh units as against 3.9 lakh units last year, registering a growth of 8 per cent.
The total revenue also dropped by 3.74 per cent with Rs. 8822.6 crore generated this year as compared to Rs. 9165.2 crore generated in the half-year ended September 2018.
Profit before tax for the half year ended September 2019 is Rs. 518.9 crore as against Rs. 518.6 crore. Profit after tax H1 ended in September 2019 is Rs. 397.3 crore as against Rs. 357.9 crore reported for the H1 ended in September 2018. The exceptional gain of Rs. 76 crore applies here as well.
