TVS Motor reports four-fold increase in Q4 profit to ₹319 cr

TVS Motor Company on Tuesday posted nearly four-fold increase in its consolidated net profit to ₹319.19 crore for the fourth quarter ended March 31, 2021, riding on the back of robust sales in the domestic and international markets.

The company had reported a net profit of ₹81.84 crore during the January-March quarter of 2019-20.

Revenue from operations rose to ₹6,131.90 crore in the fourth quarter from ₹4,104.71 crore in the same period of 2019-20 fiscal, TVS Motor said in a regulatory filing.

During the period under review, the company said its total two-wheeler and three wheeler sales across domestic and international markets stood at 9.28 lakh units, up 47 per cent from 6.33 lakh units sold in the fourth quarter of 2019-20.

For the entire 2020-21 fiscal, the company posted a net profit of ₹607.50 crore as against ₹646.80 crore in the FY20, a decline of 6.07 per cent.

Consolidated revenue from operations rose to ₹19,420.82 crore in FY21 from ₹18,849.31 crore in 2019-20.

"During the year, focused working capital management and improved operating performance helped the company generate free cash flow of ₹1,887 crore.These proceeds are used to reduce the debt," TVS Motor said.

"Lean stock with the dealers also helped to unleash the blocked working capital across the supply chain," it added.

During the year ended March 2021, the company said its overall two and three-wheeler sales, including exports stood at 30.52 lakh units against 32.63 Lakh units in 2019-20.