TVS Motor Company rose 0.91% to Rs 387.35 after the company reported strong sequential growth in monthly sales in June 2020 over May 2020.
The company recorded over three-fold increase in June 2020 sales to 198,387 units from 58,906 units sold in the month of May 2020. Its June sales, however, are lower by 33.22% as compared to 297,102 units sold in the same period last year.
While the company's two-wheeler sales were down by 32.59% to 1,91,076 units, three-wheeler sales tumbled 46.40% to 7,311 units in June 2020 over June 2019.
TVS Motor's total exports were 53,123 units in the month of June 2020, down by 24% from 69,900 units in June 2019.
TVS Motor Company said it has resumed its operations in India in a graded manner across all its factories in Hosur, Mysuru, and Nalagarh. The market is opening up gradually post the lockdown, and it is witnessing a positive uptake in both domestic retail as well as exports. The company faced supply chain constraints in June, however, it has undertaken various countermeasures, some of which have started yielding results in June itself. The company is expecting to overcome these in the month of July, TVS Motor Company said.
During the first quarter of the current financial year, two-wheelers posted sales of 2.55 lakh units as against sales of 8.84 lakh units in the first quarter of previous year. Three-wheeler sales were 0.11 lakh units in the first quarter of the current year as against 0.39 lakh units in the first quarter of previous year.
TVS Motor Company is a two and three-wheeler manufacturer and is the flagship company of TVS group.
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