TVS Motor Company share price surged over 14 per cent on Tuesday after the company reported 22.78 per cent year-on-year (yoy) rise in its net profit figures for the quarter ended September 30, 2015. (Photo: Reuters)
TVS Motor Company share price surged over 14 per cent on Tuesday after the company reported 22.78 per cent year-on-year (yoy) rise in its net profit figures for the quarter ended September 30, 2015.
At 3.01 pm, the share price of the company was up 14.03 per cent at Rs 278.30. The scrip opened at Rs 244.05 and had touched a high and low of Rs 282.65 and Rs 241, resepectively, in trade so far.
The company posted net profit of Rs 116.41 crore for the quarter under review against Rs 94.81 crore in the same quarter last year.
Total Income of the company increased from Rs 2,673.58 crore for the quarter ended September 30, 2014 to Rs 2,886.45 crore for the quarter ended September 30, 2015.
Bharat Gianani, sr research analyst, automobile, Angel Broking, said, “TVS Motor 2QFY2016 results were significantly ahead of our estimates owing to robust operating performance. The comany surprised positively reporting highest ever operating margins of 7.4 per cent in about five years. Revenues grew 8 per cent yoy to Rs 2,881 cr coming marginally ahead of our estimates. While the volumes were flat, the realisation per vehicle grew by about 7 per cent coming ahead of our estimates.”
In the past one year, the share price of the company fell 4.50 per cent to Rs 244.05 on October 26 while BSE Sensex gained 2.28 per cent during the same period.
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