TVS Motor Q4 net jumps fourfold on higher sales

It sells 1 lakh units overseas in March

TVS Motor Company Ltd. reported standalone net profit for the quarter ended March jumped almost fourfold to ₹289 crore, helped by higher sales volume.

Revenue from operations grew 53% to ₹5,322 crore.

Two-wheeler sales grew 41% in the domestic market and by 74% in the international market, surpassing the industry growth of 24% and 33% respectively, TVS Motor said in a statement on Tuesday.

During March, the company said it achieved a new milestone by selling more than 1 lakh units in the international market.

Focused working capital management and improved operating performance helped generate free cash flow of ₹1,887 crore in FY21. The funds were used to reduce debt, TVS Motor said.

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

During the quarter ended March, TVS Motor said it invested ₹131.79 crore in the equity and preference shares of its subsidiaries and associates, namely ₹59.75 crore in TVS Motor (Singapore) Pte Ltd., Singapore, ₹50 crore in TVS Credit Services Ltd., ₹14.54 crore in PT TVS Motor Company Indonesia, Jakarta, and ₹7.50 crore in Intellicar Telematics Private Ltd., Bengaluru.

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