TVS Motor Company shares jump over 4% on strong quarterly results

New Delhi: Shares of TVS Motor Company on Wednesday jumped over 4 per cent in early trade after the firm reported a rise in net profit for the third quarter.

The stock climbed 4.14 per cent to Rs 1,027 in morning trade on the BSE.

On the NSE, it zoomed 4.20 per cent to Rs 1,025.20.

On Tuesday, TVS Motor Company said its consolidated net profit increased by 28 per cent to Rs 304 crore in the third quarter ended December 31, 2022.

The company had 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 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.