TVS December Quarter results bring a lot of cheer for the brand. Along with revenue growth, it has achieved significant hike in sales as well…
Chennai-based TVS Motor has released its Q3 2020-21 results and it has a reason to celebrate. The company has witnessed its highest ever revenue during the quarter, as the demand has picked up pace both in the domestic and export markets.
It reported a revenue of Rs 5,404 crores during the quarter, against Rs 4,126 crores during the same period in 2019-20, thereby registering a growth of 31% YoY. Its EBITDA grew 41% at Rs 511 crores against Rs 363 Crores last year.
Talking about profits, TVS has reported its highest ever profit-before-tax (PBT) of Rs 362 crores in this three month period against Rs 146 crores during the same period in 2019-20. During the same quarter, it reported highest ever profit-after-tax (PAT) of Rs 266 crores.
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During the third quarter of 2020-21, TVS sold almost 990,000 units of its vehicles. In the domestic market, it witnessed a growth of 21% and the same was 31% in the international markets. It is much ahead of the industry average, which is 13% in the domestic market and 20% in the international market.
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TVS has been very aggressive in the market and frequent product updates, innovative features along with clever marketing appears to be doing the trick for the brand.