TVS shares zoom 17% on strong Q4 earnings

New Delhi TVS Motor Company on Wednesday jumped over 17 per cent after the company posted nearly four-fold increase in its consolidated net profit for the fourth quarter ended March 31, 2021.

The stock zoomed 16.74 per cent to its one-year high of Rs 661.10 on BSE. On NSE, it rallied 17.25 per cent to Rs 664 - its 52-week high. The earnings came in after market hours on Tuesday.

TVS Motor Company posted nearly four-fold increase in its consolidated net profit to Rs 319.19 crore for the fourth quarter ended March 31, 2021, riding on the back of robust sales in the domestic and international markets. The company had reported a net profit of Rs 81.84 crore during the January-March quarter of 2019-20.

Revenue from operations rose to Rs 6,131.90 crore in the fourth quarter from Rs 4,104.71 crore in the same period of 2019-20 fiscal, TVS Motor said in a regulatory filing. During the period under review, the company said its total two-wheeler and three wheeler sales across domestic and international markets stood at 9.28 lakh units, up 47 per cent from 6.33 lakh units sold in the fourth quarter of 2019-20.