TVS also reported highest-ever quarterly profits in the third quarter of the current financial year.
TVS Motor Company has reported the highest ever revenue of ₹ 5,404 crore in the third quarter of 2020-21. The revenue during October to December 2020, grew by 31 per cent from ₹ 4,126 crore in the third quarter of 2019-20. The company also reported the highest ever EBITDA (earnings before interest, taxes, depreciation and amortisation) of ₹ 511 crore for the third quarter, recording a growth of 41 per cent against ₹ 363 crore in the third quarter of 2019-20. During the current quarter, TVS reported the highest-ever quarterly Profit After Tax (PAT) of ₹ 266 crore, while profit before tax also is the highest for a quarter, at ₹ 362 crore in the third quarter of 2020-21, as against ₹ 146 crore in the third quarter of 2019-20.
In terms of sales volumes, overall two-wheeler sales grew 23 per cent to 9.52 lakh units, from 7.73 lakh units in the quarter ended December 2019. Two-wheeler sales of TVS in the domestic market grew by 21 per cent while international market sales grew by 31 per cent, ahead of industry growth of 13 per cent and 20 per cent respectively. Motorcycle sales grew by 31 per cent to 4.26 lakh units in the October-December 2020 quarter, from 3.25 lakh units registered in the quarter ended December 2019. TVS Motor Company’s 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.
TVS Motor Company’s exports grew by 20 per cent during October to December 2020, to 2.61 lakh from 2.17 lakh in the same period a year ago. These export numbers are despite scarcity in availability of containers, the company said in a press statement.
From April to December 2020, TVS Motor Company’s total two-wheeler sales stands at 20.42 lakh units, as against 24.99 lakh units in the nine month period a year ago, which ended in December 2019. Total exports of TVS 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. Total revenue for the April to December 2020 period is reported at ₹ 11,455 crore, as against ₹ 12,949 crore reported for the nine months of financial year 2019-20, which ended in December 2019.