TVS Motor rides on robust domestic, export demand: H1 revenue up 21%

Chennai-based two- and three-wheeler major, TVS Motor Company has reported strong Q2 and half-year FY2019 numbers. The company has clocked revenue of Rs 9,165 crore, up 21.3 percent in H1 FY 2019, while operating PAT was Rs 305 crore, up 17.2 percent YoY.

The growth in operating PAT for H1 FY2019 is in consideration of fair valuation gains and one-time GST discount (net of tax). In the first half of the financial year, the company sold 19.41 lakh units (16,19,439 domestic + 323,165 export), which marks YOY growth of 13.6 percent. This includes 676,000 scooters (+15.4%) and 807,000 motorcycles (+16%). In the three-wheeler segment, the sales grew by 78 percent, the company sold 75,000 units as against 42,000 units in the half-year ended September 2017.

For Q2 FY 2019 the company reported revenue of Rs 4,994 crore (+21.9%), EBITDA at Rs 428 crore, EBITDA margin at 8.6 percent. While the operating PAT grew by 11 percent, at Rs 190 crore. In the second quarter, the company sold a cumulative 10.49 lakh two-wheelers (+13.6%), including 420,000 motorcycles (+14.9%) and 388,000 scooters (+18.2%).  In the three-wheeler space the company sold 40,000 units as against 25,000 units in the quarter ended September 2017.