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TVS Motors hit hard by operating losses

With a sustained rise in volumes, TVS Motors expects to return to operating profit in the July-September quarter

July 30, 2020 / 09:14 AM IST
TVS Motors hit hard by operating losses

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The first quarter of FY21 was a washout for TVS Motors (CMP: Rs 402, Market Cap: Rs 19,105 crore). Hobbled by disruptions, the company suffered operating losses on account of negative operating leverage. Though Q1 was disappointing on most fronts, business is now bouncing back and sales volume in June and July appear to be encouraging in these challenging times. Quarterly earnings highlights (image) The standalone revenues of TVS declined 68 per cent year-on-year (YoY) to Rs 1432 crore, dragged by a...

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