TVS Motor Q4 net profit zooms led by better product mix
Shares of the automaker rose as much as 13.5% after posted a nearly four-fold increase in its consolidated net profit to Rs 319.19 crore for the fourth quarter.
Revenue from operations rose to Rs 6,131.90 crore in the fourth quarter from Rs 4,104.71 crore in the same period of 2019-20 fiscal.
During the period under review, the company’s total two-wheeler and three-wheeler sales across domestic and international markets stood at 9.28 lakh units, up 47% from 6.33 lakh units sold in the fourth quarter of 2019-20.
While commodities continue to inch upwards, the company was able to mitigate the impact via price hikes and better mix (exports and scooters).
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%.
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