TVS Motor shares climb over 3% after Q4 earnings

New Delhi: Shares of TVS Motor Company on Thursday climbed over 3 per cent after the company's consolidated net profit increased 15 per cent for the fourth quarter ended March 2024.

The stock went up by 5.73 per cent to Rs 2,121.30 apiece during the day on the BSE. It ended at Rs 2,061.15, up 2.74 per cent.

On the NSE, shares of the company ended at Rs 2,061.60 each, rallying 3.25 per cent. During the day, it climbed 6.32 per cent to Rs 2,123.

In volume terms, 2.33 lakh shares of the company were traded on the BSE and 53.53 lakh shares on the NSE during the day.

TVS Motor Company on Wednesday said its net profit increased 15 per cent to Rs 387 crore for the fourth quarter ended March 2024, riding on robust sales.

The company had reported a net profit of Rs 336 crore in the January-March period of the previous fiscal.

Revenue from operations rose to Rs 10,042 crore in the period under review compared with Rs 8,031 crore in the fourth quarter of FY23.

In the fourth quarter, the company said its overall two-wheeler and three-wheeler sales, including exports, grew by 22 per cent to 10.63 lakh units compared to 8.68 lakh units in the same period of the 2022-23 fiscal.

For the year ended on March 31, 2024, the company posted a consolidated net profit of Rs 1,686 crore as against Rs 1,329 crore a year ago.

Revenue from operations rose to Rs 39,145 crore in FY24 over Rs 31,974 crore in the 2022-23 fiscal.