TVS Motor Q2 net jumps 29% to Rs 234 crore

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TVS Motor Company on Thursday posted a 29.19 per cent increase in consolidated net profit at Rs 234.37 crore for the second quarter ended September. The company had reported a net profit of Rs 181.41 crore in the July-September period of the previous fiscal.

Revenue from operations rose to Rs 6,483.42 for the second quarter as compared to Rs 5,254.36 in the year-ago period, TVS Motor Company said in a regulatory filing. For the six months ended September 30, the company posted a consolidated net profit of Rs 219.65 crore. It had posted a net loss of Rs 1.38 crore in the same period of 2020-21.

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Revenue from operations climbed to Rs 11,172.76 crore in the April-September period this fiscal, from Rs 7,194.01 crore in the year-ago period. The company said in the September quarter its total two-wheeler sales rose to 8.7 lakh units as against 8.34 lakh units in the second quarter of 2020-21.

Two-wheeler export sales grew by 46 per cent compared to the second quarter of last year. Motorcycle sales stood at 4.39 lakh units in the second quarter, as against 3.66 lakh units earlier.

Scooter sales dipped to 2.66 lakh units from 2.7 lakh units in the second quarter of 2020-21. Total three-wheelers sales stood at 47,000 units in the second quarter, as against 33,000 units in the quarter ended September 2020.

TVS noted that during the second quarter, focused working capital management and improved operating performance helped it to generate operating free cash flow of Rs 1,090 crore.