TVS Motor surges on robust Q2 earnings

Net profit for Sep 2015 quarter rose 22% to Rs 116 crore compared to Sep 2014 quarter

Shares of TVS Motor were up over 5% at Rs 258 after the auto major reported net profit of Rs 116 crore for the quarter ended September 30, 2015, up 22% compared to Rs 95 crore in the corresponding quarter last fiscal, on the back of higher EBITDA margins.

EBIDTA margins for the quarter under review rose nearly 100 basis points to 7.5% compared with 6.5% in the quarter ended September 30, 2014.

Total income from operations was higher by 8% at Rs 2,881 crore compared with Rs 2,667 crore in the quarter ended September 30, 2014.

The stock opened at Rs 244 and touched a high of Rs 260. At 2:30pm, over 3.5 million shares were traded on both the stock exchanges.