TVS Motor Firm registered web lack of Rs. 139.07 crore within the first quarter of FY’21 ended June 2020. As compared, the corporate had registered revenue after tax of Rs. 142.three crore in the identical quarter final 12 months.
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TVS reported a web lack of Rs. 139.07 crore in Q1 FY’21
TVS Motor Firm has reported a web 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. Within the quarter beneath overview, the corporate’s income dropped by an enormous 67.96 per cent to ₹ 1,434.three crore from ₹ four,469.eight crore final 12 months. The corporate stated that this specific quarter is just not a consultant quarter as gross sales and manufacturing have been on full halt for a major period of time. The state of affairs, brought on by the lockdown resulting from Coronavirus pandemic was unprecedented.
Additionally Learn: TVS Says Business Environment Will Continue To Be Challenging This Fiscal
(TVS noticed steep declines in phase sensible gross sales in Q1 FY’21 as effectively)
Even when it comes to gross sales, the corporate noticed steep declines. The corporate’s total two-wheeler gross sales together with exports was 2.55 lakh items throughout quarter ended June 2020 as towards gross sales of eight.84 Lakh items reported within the quarter ended June 2019. TVS Motor Company registered bike gross sales of 1.19 lakh items in Q1 FY’21 towards gross sales of four.17 lakh items registered in the identical quarter final 12 months. The scooter gross sales of the corporate for the quarter stood at zero.82 lakh items in comparison with 2.95 lakh items in Q1 FY’20. Complete exports stood at zero.81 lakh items within the quarter towards 2.09 lakh items in the identical quarter final 12 months. TVS bought a complete of zero.12 lakh items of three-wheelers when in comparison with zero.40 lakh items bought in the identical quarter final 12 months.
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In a press release, TVS Motor Firm stated, “The market is now open barring selective native lockdowns. We’re witnessing a optimistic uptake in each home retails in addition to worldwide markets. A number of measures taken by the corporate helped it to beat provide chain disruptions and stabilise operations by finish of June.”
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