TVS Motor reports highest-ever profit

TVS Motor Company has posted the highest-ever profit of ~266 crore during the quarter ended December 31, as compared to ~121.07 crore. The two-wheeler company has clocked the highest-ever revenue of ~5,404 crore in the third quarter of FY20-21, as against ~4,126 crore in the third quarter of FY19-20, registering 31 per cent growth.

The company also reported highest-ever profit before tax (PBT) of ~362 crores in Q3 of FY20-21 as against ~146 crore in the same period of the corresponding year. The company has recorded a lower cumulative revenue, PBT, and PAT for the current year (April to December) because of the losses it incurred during the Covid-19 induced lockdown.

Meanwhile, the Norton Motorcycle, owned by TVS Motor Company, has announced that the company is moving to a new headquarters. The production site located in Solihull, West Midlands in the UK. The company will open the facility following a multimillion-pound investment by Norton’s Indian parent company, TVS Motor Company. It will be the most advanced manufacturing unit in the 122-year-old motorcycle brand’s history.

The new manufacturing facility will make use of modern-day, quality-assured production processes. Skilled technicians will deploy bespoke bike building techniques and state-of-the-art new manufacturing equipment to ensure all bikes are built with great precision and quality, a hallmark of both Norton and TVS Motor Company.