TVS on the 'high'way!

The past few months of good offtake in sales has surely shown in its earnings.

TVS Motors, for Q3FY21, reported its highest ever revenue of Rs. 5,404 crore, up 31% (YoY).

EBITDA was also at a record high at 511 crore, up 41% and ditto fo net profit, which was highest for any quarter at Rs.266 crore.

During the quarter, its overall two-wheeler sales, including exports grew 23% to 9.52 Lakh units wherein motorcycle sales rose 31% and scooter sales by 11%. Exports rose 20% and the company said that the demand continues to remain robust. Three-wheeler sales were down 21%.

The company also declared an interim dividend of Rs. 2.10/- per share (210%) absorbing a sum of Rs. 100 crore for the year 2020-21.

The stock price has reacted very positively to these numbers. From its close of yesterday at Rs.528.65, it opened itself at Rs.554 and rushed to hit a new high at Rs.589 and continues to trade currently at Rs.580 levels.