TVS Motor reported a 30 per cent growth in profit during the fourth quarter ended March 31, 2015, at Rs 118 crore against Rs 91 crore a year ago.
The firm’s revenue rose 15 per cent to Rs 2,815 crore in the fourth quarter from Rs 2,443 crore in the fourth quarter of the financial year ended March 2015.
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The company said a comprehensive product portfolio with market acceptance of new products and steady growth in sales had enabled it to post 12 per cent revenue growth in 2015-16. During the year, the company recorded total sales of 2.7 million units.
During the year ended March 2016, the overall two-wheeler sales of TVS Motor Company grew from 2.4 million units registered in 2014-15 to 2.6 million units in 2015-16.
Motorcycle sales during the financial year increased from 0.9 million units in the year ended March 2015 to one million units in the year ended March 2016. Scooter sales during the period under review increased from 0.7 million units in the year ended March 2015 to 0.8 million units in the year ended March 2016.
Shares tank 10%
Shares of TVS Motor on Tuesday went into a tailspin, slumping nearly 10 per cent, after the company's March quarter earnings failed to enthuse investors.
The stock which gained two per cent to Rs 325.35 during the day, later surrendered all its gains as soon as the results were announced in the fag-end of the trade and tanked 9.66 per cent to settle at Rs 287.90 on BSE.
At NSE, the scrip plunged 9.87 per cent to close at Rs 287.45.
On the volume front, 1.78 million shares of the company changed hands at BSE and over one crore shares were traded at NSE during the day.
Analysts said lower margins pulled down the stock.