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TVS Motor Q3 net jumps to ₹266 crore

TVS Motor Q3 net jumps to ₹266 crore
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TVS Motor Co. Ltd.’s standalone net profit for the third quarter ended December 2020 more than doubled to ₹266 crore driven by strong growth in two-wheeler sales in the domestic and international markets.
Two-wheeler sales in the domestic market rose by 21% and international market by 31% ahead of the industry growth of 13% and 20% respectively.
The third quarter of FY20 had a one-time reversal of exceptional item of ₹76 crore.
The board on Thursday declared an interim dividend of ₹2.10 per share.
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India Electric Scooter and Motorcycle Market 2020-2025: Market is Predicted to Register a CAGR of 57.9% - Long-range Electric Scooters and Motorcycles to Gain Traction

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The Indian electric scooter and motorcycle market would reach a sales volume of 1,080.5 thousand by the end of 2025, exhibiting a CAGR of 57.9% between 2020 and 2025.
Due to the rising pollution and the increasing provision of financial incentives by the government, the sales of electric scooters and motorcycles are booming in India. In 2019, nearly 152.0 thousand units of electric motorcycles and scooters were sold in the country, registering a 20.6% growth annually from 2014.
In terms of retail sales value, the market is predicted to advance at a CAGR of 63.9% from 2020 to 2025 and attain a revenue of more than $1.0 billion in 2025. A key factor fueling the growth of the market is the provision of lucrative financial incentives and subsidies on electric vehicles by the government. Moreover, the government is also providing tax exemptions and purchase rebates for promoting the utilizati ....

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