TVS Motor drops amid volatility after Q1 results

TVS Motor Company lost 2.21% to Rs 165.70 at 14:42 IST on BSE after net profit jumped 39.3% to Rs 72.30 crore on 31% growth in total revenue to Rs 2305 crore in Q1 June 2014 over Q1 June 2013.

The company announced Q1 results during market hours today, 24 July 2014.

Meanwhile, the S&P BSE Sensex was up 105.54 points or 0.4% at 26,252.87.

On BSE, so far 17.46 lakh shares were traded in the counter as against average daily volume of 5.10 lakh shares in the past one quarter.

The stock was volatile. The stock tumbled as much as 4.21% at the day's low of Rs 162.30 so far during the day. The stock surged as much as 5.63% at the day's high of Rs 179 so far during the day, which is also a record high for the counter. The stock had hit a 52-week low of Rs 28.10 on 31 July 2013.

The stock had outperformed the market over the past one month till 23 July 2014, surging 19.33% compared with the Sensex's 4.46% rise. The scrip had also outperformed the market in past one quarter, advancing 92.12% as against Sensex's 14.3% rise.

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

TVS Motor Company (TVS)'s total two-wheeler sales rose 22% to 5.59 lakh units in Q1 June 2014 over Q1 June 2013. Motorcycle sales grew 23% to 2.28 lakh units in Q1 June 2014 over Q1 June 2013. Scooter sales rose 55% to 1.52 lakh units in Q1 June 2014 over Q1 June 2013.

Three-wheeler sales surged 60% to 25,000 units in Q1 June 2014 over Q1 June 2013.

Two and three wheeler exports of the company rose 47% to 0.97 lakh units in Q1 June 2014 over Q1 June 2013.

During the quarter, the company strengthened its motorcycle portfolio with the launch of TVS StaR City+, a 110 cc, feature rich motorcycle, which offers a unique combination of performance, fuel economy and style. TVS StaR City+ has received an overwhelming response from the market, the company said in a statement.

TVS Motor Company is one of the leading two-wheeler manufacturers in India. With presence in more than 60 countries across the globe, TVS Motor Company is the second largest exporter of two wheelers and three wheelers from India. The company has grown to be a strong brand name in Asia, Latin America and Africa with popular products in the two and three wheeler segments.

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