TVS Motor Company has reported a 20 percent jump in its Q2FY20 standalone net profit at Rs 255 crore on the back of improvement in the margins.
The company had reported a profit of Rs 211.31 in the same quarter last year.
Revenue of the company was down 13 percent at Rs 4,347.8 crore versus Rs 4,993.47 crore.
The company has reported a one-time gain at Rs 76 crore.
Meanwhile, earnings before interest, tax, depreciation and amortization (EBITDA) was down 10.8 percent at Rs 382 crore versus Rs 428.1 crore
The EBITDA margin was up at 8.8 percent against 8.6 percent, YoY.
The company’s overall two-wheeler sales including exports was 8.42 lakh units during quarter ended September 2019 as against 10.49 lakh units reported in September 2018.
Total exports of the company grew by 6 percent to 2.11 lakh units from 1.99 lakh units.
At 1504 hrs, TVS Motor Company was quoting at Rs 437.35, up Rs 25.95, or 6.31 percent on the BSE.
News Source: moneycontrol