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TVS Motor sales spurts 123% YoY in March

Capital Market 

TVS Motor Company's total auto sales grew 122.94% registering 3,22,683 units in March 2021 as against 1,44,739 units in March 2020.

Sequentially, the company's total auto sales jumped 8.37% in March 2021 from 2,97,747 units in the month of February 2021.

Total two-wheeler sales surged 130% recording a sale of 3,07,437 units in March 2021 as compared to 1,33,988 units in March 2020. Domestic two-wheelers recorded 115% growth with sales of 2,02,155 units in March 2021 as against 94,103 units in March 2020. Motorcycle sales soared 136% registering 1,57,294 units in March 2021 as against 66,673 units in March 2020. Scooter sales grew 206% to 1,04,513 units in March 2021 as against 34,191 units in March 2020.

The firm's total exports climbed 138% to 1,19,422 units in March 2021 from 50,197 units registered in the month of March 2020. Two-wheeler exports grew by 164% recording 1,05,282 units in March 2021 as against 39,885 units in March 2020. An increase in motorcycle sales in key international markets has significantly contributed to this achievement, the press statement highlighted, the company said.

Three-wheeler of the company spurted 42% to 15,246 units in March 2021 as against 10,751 units in March 2020.

The company's standalone net profit surged 119.4% to Rs 265.62 crore on 30.7% rise in net sales to Rs Rs 5,391.39 crore in Q3 FY21 over Q3 FY20.

Shares of TVS Motor Company slipped 0.53% to Rs 586 on BSE. TVS Motor Company, part of the TVS Group, is a two and three-wheeler manufacturer.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, April 05 2021. 10:26 IST