TVS Motor Q4 results: Profit plunges 45% YoY to Rs 74 crore

TVS Motor Company on Thursday posted a 44.82 per cent year-on-year (YoY) fall in net profit at Rs 73.87 crore for the quarter ended March 31. Analysts in an ETNow poll had projected the number at Rs 70 crore.

Revenue of the company declined 20.59 per cent YoY to Rs 3,481.42 crore during the quarter under review.

“The company provided Rs 22 crore towards one-time additional discount to liquidate BSIV vehicles during end March 2020 and the same is netted off against the revenue reported in the current quarter,” TVS Motor said.


Operating profit after tax prior to one-time additional discount and exceptional item stood at Rs 116.5 crore against Rs 133.8 crore in the same period last year.

“Since March 23, 2020 the company’s manufacturing facilities have been closed in adherence to the lockdown guidelines issued by the government of India. This caused interruption to production and sales during this period,” it said.

Overall, the company sold 6.33 lakh units of vehicles in Q4FY20 over 9.07 lakh units in Q4FY19.

Shares of the auto major closed 2.77 per cent higher at Rs 332.15, while the benchmark BSE Sensex settled 1.88 per cent higher at 32,200.