New Delhi: TVS Motor Company on Thursday reported revenue of INR 5,404 crore in the third quarter of 2020-21 as against INR 4,126 crore in the corresponding quarter of the previous fiscal year, registering a growth of 31%. The company said it grossed the highest-ever revenue in Q3 FY21.
EBITDA for Q3 stood at INR 511 crore recording growth of 41% over INR 363 crore in the third quarter of 2019-20. During the current quarter, the company reported profit after tax (PAT) of INR 266 crore.
During the nine-month period, the focused working capital management and improved operating performance helped the company generate a free cash flow of INR 1,616 crore, TVS said in a statement.
During the quarter to December 31, 2020, the overall two-wheeler sales of the company, including exports, grew by 23% to 9.52 lakh units from 7.73 Lakh units in the quarter to December 31, 2019. Motorcycle sales grew by 31% to 4.26 lakh units in the quarter ended December 31, 2020 from 3.25 lakh units registered in the same quarter last fiscal year.
Scooter sales were also up by 11% to 3.11 lakh units in the quarter ended December 31, 2020 from 2.80 lakh units in the quarter ended December 31, 2019.
The total export of the company grew from 2.17 lakh units in the quarter ended December 31, 2019 to 2.61 lakh units during the quarter ended December 31, 2020 recording a growth of 20%.
Total three-wheelers sales were at 0.38 lakh units in the Q3 as against sales of 0.48 lakh units in the quarter ended December 31, 2019.
The Chennai-headquartered company noted that the cumulative revenue, PBT and PAT for the current year are lower mainly due to loss incurred in Q1 because of the lockdown for COVID-19. However, the company reported near-normalcy from Q2 onwards.