TVS Motor Company slipped 1.11% to Rs 430.70 after the company's total auto sales fell 15.39% to 253,261 units in February 2020 as against 299,353 units in February 2019.
Total two-wheelers registered sales of 235,891 units in February 2020 as against sales of 285,611 units in February 2019, down by 17.41% YoY. Domestic two-wheeler sales slumped 26.73% to 169,684 units in February 2020 as against sales of 231,582 units in February 2019.
Three-wheeler sales of the company grew by 26% increasing from 13,742 units in February 2019 to 17,370 units registered in February 2020.
Total exports grew by 25% to 82,877 units in February 2020 from 66,570 units registered in February 2019. Two-wheeler exports grew by 23% increasing from 54,029 units in February 2019 to 66,207 units in February 2020.
As planned, the company is on track to reducing dealer level BSIV stock in the domestic market and is confident of retailing it this month. In addition, the outbreak of pandemic coronavirus (COVID-19) has led to impact on supply of certain components for production of BS-VI vehicles. All efforts are on to normalise this at the earliest.
TVS Motor Company is engaged in the manufacturing of motorcycles, scooters, mopeds, three wheelers, parts and accessories.
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On a consolidated basis, the auto maker's net profit fell 26.1% to Rs 150.61 crore on a 7% decline in net sales to Rs 4765.99 crore in Q3 December 2019 over Q3 December 2018.
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