28 Apr , 2021 By : Kanchan Joshi
Shares of 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 Rs661.10 on BSE.
On NSE, it rallied 17.25 per cent to Rs664 -- 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 Rs319.19 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 Rs81.84 crore during the January-March quarter of 2019-20.
Revenue from operations rose to Rs6,131.90 crore in the fourth quarter from Rs4,104.71 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.
For the entire 2020-21 fiscal, the company posted a net profit of Rs607.50 crore as against Rs646.80 crore in the FY20, a decline of 6.07 per cent.
Consolidated revenue from operations rose to Rs19,420.82 crore in FY21 from Rs18,849.31 crore in 2019-20.
0 Comment