TVS Motor falls over 10% post Q4 results

The stock dipped 12% to Rs 281, falling nearly 14% from intra-day's high on the BSE.

TVS Motor Company has dipped 12% to Rs 281, falling nearly 14% from intra-day’s high on the BSE, after the company reported earnings before interest, tax, depreciation and amortization (EBITDA) margin of 6.3% against street expectation of 7.3% for the quarter ended March 2016 (Q4FY16).

The company has reported 30% year on year (YoY) jump in net profit at Rs 91 crore in Q4FY16, on the back of revenue growth 15% at Rs 2,443 crore over the previous year quarter.

TVS Motor Company said it is looking to consolidate its market share in the ongoing fiscal. The company will further strengthen its portfolio with new launches and upgrades of existing products.

At 03:18 pm, the stock was down 11% at Rs 283 on the BSE. The stock hit an intra-day high of Rs 325 before the announcements of Q4 results.

As many as a combined 10.87 million shares representing 2.3% of total equity changed hands on the counter on the BSE and NSE so far. An average sub three million shares were traded in past two weeks on both the exchanges.