The company reported a standalone profit of Rs 289 crore during the three-month period as against Rs 74 crore in the preceding year. Revenue grew by 53% year-on-year to Rs 5,322 crore.
Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 119% on-year to Rs 536 crore while EBITDA margin improved by 304 basis points to 10.1%. One basis point is 0.01%.
The company sold almost a million two- and three-wheelers during the quarter. Two-wheeler sales grew by 50% compared to last year to 886,000 units even as three-wheeler sales declined by 5% to 41,000 units.
The Chennai-based company claimed that its two-wheeler sales in domestic and export markets grew by 41% and 74%, respectively, ahead of an industry-wide growth of 24% and 33%.
“TVS delivered a healthy performance in Q4FY21. We expect its domestic volume to witness a double-digit growth in FY22,” Mitul Shah, Head of Research at Reliance Securities said in a note.
“We expect a healthy 14% CAGR (compounded annual growth rate) for exports over FY21-FY23 on the back of strong sales in African markets,” he said.
The stock of TVS Motor company ended 2.43% higher at Rs 566.3 per share on the BSE compared to a 1.15% climb in the benchmark Sensex. The result was declared post market hours.
For the full fiscal year FY21, the company reported a 2% year-on-year growth in standalone revenue to Rs 16,751 crore despite the pandemic affecting business for the better part of the year.
Profit grew by over 3% to Rs 612 crore while EBITDA grew by 6% to Rs 1,429 crore. EBITDA margin improved by 34 basis points to 8.5%.
