Net sales for the quarter stood at Rs 4,608 crore, up 6 per cent year-on-year (YoY) amidst 2 per cent decline in volumes for the quarter. Profit after tax in Q2FY21 stood at Rs 196 crore which is not comparable on YoY basis due to exceptional gains in the base quarter. The profit before tax before exceptional items for the quarter was Rs 267 crore compared to Rs 234 crore in last year.
TVS Motor said that despite the Covid-19 challenges, the company strengthened its supply chain during the September quarter. The production and sales improved consistently from July onwards. The total 2-wheeler sales of 834,000 for the quarter were almost in line with last year second quarter number of 842,000, it said.
At 10:29 am, the stock was trading 7 per cent higher at Rs 451 on the BSE, as compared to 0.3 per cent rise in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled with a combined 6.6 million equity shares changing hands on the NSE and BSE, combined.