TVS Motor Company gains after reporting good sales in May

TVS Motor Company gained 1.91% to Rs 294.10 at 10:00 IST on BSE after the company said that total sales rose 11% to 2.43 lakh units in May 2016 over May 2015.

The announcement was made after trading hours yesterday, 1 June 2016.

Meanwhile, the S&P BSE Sensex was down 48.79 points or 0.1% at 26,665.14.

On BSE, so far 77,980 shares were traded in the counter as against average daily volume of 2.05 lakh shares in the past one quarter. The stock hit high of Rs 296.65 and a low of Rs 292.70 so far during the day. The stock had hit a record high of Rs 340.90 on 20 April 2016. The stock had hit a 52-week low of Rs 201 on 24 August 2015. The stock had underperformed the market over the past one month till 1 June 2016, falling 9.81% compared with 4.32% gains in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 1.73% as against Sensex's 12.34% gains.

The large-cap company has equity capital of Rs 47.51 crore. Face value per share is Rs 1.

TVS Motor Company said that total two wheeler sales increased by 13% to 2.38 lakh units in May 2016 over May 2015. Domestic two wheeler sales grew by 17.9% to 2.06 lakh units in May 2016 over May 2015. Scooters sales of the company grew by 20.2 % to 65,434 units in May 2016 over May 2015. Motorcycles sales grew by 5.6% to 96,485 units in May 2016 over May 2015. Three wheeler sales fell 40.85% to 5,463 units in May 2016 over May 2015.

The company's total exports shed 18.46% to 35,545 units in May 2016 over May 2015. Two wheeler exports sales fell 10.97% to 31,434 units in May 2016 over May 2015. TVS Motor Company feels the restricted availability of forex is affecting Indian exports to Africa including that of the company.

TVS Motor Company's net profit rose 30.1% to Rs 117.76 crore on 15.9% growth in net sales to Rs 2776.39 crore in Q4 March 2016 over Q4 March 2015.

TVS Motor Company manufactures motorcycles, scooters, mopeds and auto rickshaws.

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