TVS Motor Company, manufacturer of two and three-wheelers globally, on Thursday reported a 41.4 percent year-on-year (YoY) jump in net profit at Rs 277.6 crore for the second quarter ended September 30.

In the corresponding quarter last year, the Chennai-headquartered company posted a net profit of Rs 196.3 crore. CNBC-TV18 Poll had predicted a profit of Rs 248 crore for the quarter under review.

The company reported the highest ever revenue of Rs 5,619 crore in the second quarter of 2021-22 as against Rs 4,605 crore in the second quarter of 2020-21 registering a growth of 22 percent.

Also Read:

UltraTech Cement Q2 Results: Net profit up 13% at Rs 1,313.5 crore, misses Street estimates

It also posted the highest ever EBITDA of Rs 562 crore as against Rs 430 crore during the quarter ended September 2020, despite various challenges in terms of increase in commodity costs, scarcity of containers for international business and shortage in semiconductors through significant cost reduction initiatives and growth in revenue.

The company's PBT grew by 41 percent at Rs 377 crore during this quarter as against Rs 267 crore during the quarter ended September 2020. Also, it registered an operating EBITDA margin of 10 percent during this quarter as against 9.3 percent during the quarter ended September 2020.

Total two-wheeler sales of 8.70 lakh units were registered in the quarter as against 8.34 lakh units in the second quarter of 2020-21. Two-wheeler export sales grew by 46 percent compared to Q2 of the last year.

Also Read: JSW Steel logs its highest-ever quarterly profit at Rs 7,179 crore in Q2, up 350%; beats estimates

Motorcycles registered sales of 4.39 lakh units in the quarter ended September 2021 as against sales of 3.66 lakh units registered in the quarter ended September 2020. Scooter sales of the company for the quarter registered 2.66 lakh units as against sales of 2.70 lakh units in the quarter ended September 2020.

The total two-wheeler sales of the company for the half-year ended September 2021 is 14.88 lakh units as against 10.90 lakh units recorded in the half-year ended September 2020.

The total three-wheeler sales for the half-year ended September 2021 is 0.86 lakh units as against 0.45 lakh units registered in the half-year ended September 2020. The total export of two and three-wheelers for the half-year ended September 2021 is 6.43 lakh units as against 2.96 lakh units in the half-year ended September 2020.

Also Read: Asian Paints Q2 Results: Net profit falls 29% to Rs 605 crore, misses Street estimates

Total revenue in the half-year ended September 2021 is Rs 9,554 crore against Rs 6,037 crore in the half-year ended September 2020. PBT before exceptional items for the half-year ended September 2021 is Rs 479 crore as against Rs 78 crore in the half-year ended September 2020.

During the half-year ended September 2021, the company reported Profit After Tax of Rs 331 crore as against Rs 57 crore in the half-year ended September 2020.

The results came after the close of the market hours. Shares of TVS Motor ended at Rs 576.55, down by Rs 2.55, or 0.44 percent on the BSE.

Also Read: Hindustan Unilever Q2 Results: Net profit at Rs 2,187 crore, meets Street estimates

(Edited by : Jomy Jos Pullokaran)

First Published:Oct 21, 2021 5:29 PM IST