Chennai-based two/three-wheeler maker TVS Motor posted a net profit of INR 289 crore in Q4FY21, recording a growth of 292% as against INR 74 crore in the fourth quarter of FY20.
According to the company, the surge in net profit is attributed to strong international demand and domestic sales. For the first time, the company exported over one lakh units in the month of March itself. The maker of the Apache recorded 74% growth in exports and a 41% rise in domestic sales.
The company generated INR 5,322 crore revenue from operations growing by 53% for the quarter under review against INR 3,481 crore reported in Q4 FY20.
It reported the highest ever operating EBITDA of INR 536 crore for the fourth quarter recording a growth of 119% as against INR 245 crore in Q4 FY20. The Profit Before Tax (PBT) stood at INR 387 crore in Q4 FY21 recording a growth of 331% as against INR 90 crore in same quarter last year.
The overall two-wheeler and three-wheeler sales, including exports, registered a growth of 47% at 9.28 lakh units in the quarter ended March 2021 as against 6.33 lakh units registered in the quarter ended March 2020.
Motorcycle sales registered a growth of 54% at 4.31 lakh units in the quarter ended March 2021 as against 2.80 lakh units in the same quarter last year.
Scooter sales due the period saw 78% growth at 2.98 lakh units against 1.67 lakh units during the same period last year.
TVS Motors' total export of two-wheelers and three-wheelers registered a growth of 58% at 3.22 lakh units in the quarter under review as against 2.04 lakh units in the quarter ended March 2020.
Three-wheeler sales for the quarter under review is 0.41 lakh units as against 0.43 lakh units during the quarter last year.