TVS Motor reports highest-ever revenue in Q3 2020-21 

TVS Motor reports highest-ever revenue in Q3 2020-21 

The Hosur-based company registered growth of 31 per cent

Credit: DH Photo

TVS Motor Company reported its highest ever revenue of Rs 5,404 crore in the third quarter of 2020-21 as against Rs 4,126 crore in the third quarter of 2019-20 registering a growth of 31 per cent, the Hosur-based manufacturer has announced. 

The company reported highest ever EBITDA of Rs 511 crore for the third quarter recording a growth of 41 per cent as against Rs 363 crore in third quarter of 2019-20. 

It also reported its highest ever PBT of Rs 362 crore in the third quarter of 2020-21 as against Rs 146 crore in the third quarter of 2019-20. The third quarter results of last year had a one-time reversal of exceptional item of Rs 76 crore. In the current quarter, the company reported highest ever Profit After Tax (PAT) of Rs 266 crore. 

During the nine-month period, focused working capital management and improved operating performance helped TVS generate free cash flow of Rs 1,616 crore.  

In Q3 2020, two-wheelers sales in domestic market grew by 21 per cent and international market by 31 per cent, ahead of industry growth of 13 per cent and 20 per cent respectively. 

In the quarter ended December 2020, overall two-wheeler sales including exports grew by 23 per cent to 9.52 lakh units from 7.73 lakh units in the quarter ended December 2019.  

Motorcycle sales grew by 31 per cent to 4.26 lakh units in the quarter ended December 2020 from 3.25 lakh units registered in the quarter ended December 2019. Scooter sales grew by 11 per cent to 3.11 lakh units in the quarter ended December 2020 from 2.80 lakh units in the quarter ended December 2019. 

The total export of the Company grew from 2.17 Lakh units in the quarter ended December 2019 to 2.61 Lakh units during the quarter ended December 2020 recording a growth of 20 per cent despite scarcity in availability of containers.  The demand in export market continues to be robust. 

Total three-wheeler sales registered sale of 0.38 lakh units in the quarter ended December 2020 as against sales of 0.48 lakh units in the quarter ended December 2019. 

The total two-wheeler sales including exports is at 20.42 lakh units during the nine months ended December 2020 as against 24.99 lakh units in the nine months ended December 2019. 

Total three-wheeler sales are at 0.83 lakh units in the nine months ended December 2020 as against 1.31 lakh units in the nine months ended December 2019.  

The total export sales are at 5.57 lakh units during the nine months ended December 2020 as against 6.37 lakh units in the nine months ended December 2019.