TVS Motor Company shares jump over 4 pc on strong quarterly results
NEW DELHI: Shares of TVS Motor Company on Wednesday jumped over 4 percent in early trade after the firm reported a rise in net profit for the third quarter.
The stock climbed 4.14 percent to Rs 1,027 in morning trade on the BSE.
On the NSE, it zoomed 4.20 percent to Rs 1,025.20.
On Tuesday, TVS Motor Company said its consolidated net profit increased by 28 percent to Rs 304 crore in the third quarter that ended December 31, 2022.
The company reported a net profit of Rs 237 crore for October-December 2021-22.
Total revenue increased to Rs 8,075 crore during the quarter as against Rs 6,606 crore in the year-ago period, the company said in a regulatory filing.
It said its total two-wheeler sales rose to 8.36 lakh units in the period under review as against 8.35 lakh units in the quarter that ended December 2021.
For the nine months ended December 31, 2022, the company reported a net profit of Rs 974 crore as compared with Rs 456 crore in the year-ago period.