TVS Motors Company has surged 5% to Rs 97, extending its previous day’s 6% rally, after reporting an adjusted standalone net profit of Rs 82 crore for the fourth quarter ended March 31, 2014 (Q4). The two-wheeler maker had a loss of Rs 32.72 crore during the same period last year.
During the quarter, the company made a provision of Rs 33 crore towards its wholly owned subsidiary, TVS Motor Company (Europe) B.V. Accounting for the provisions, reported net profit stood at Rs 52 crore.
The company reported robust performance mainly due to strong growth in scooter sales backed by Jupiter and better product-mix.
Total revenues during the quarter under grew by 21% yoy to Rs 2,156 crore, while total expenditure increased by 19.6% to Rs 2,053 crore over the previous year quarter.
On the operating front, EBITDA margins expanded 115 basis points yoy to 6.4%, driven by superior product-mix, operating leverage benefits and cost reduction initiatives.
The stock opened at Rs 94.40 and touched a high of Rs 97.80 on the BSE. A combined 2.05 million shares changed hands on the counter so far on the BSE and NSE.
During the quarter, the company made a provision of Rs 33 crore towards its wholly owned subsidiary, TVS Motor Company (Europe) B.V. Accounting for the provisions, reported net profit stood at Rs 52 crore.
The company reported robust performance mainly due to strong growth in scooter sales backed by Jupiter and better product-mix.
Total revenues during the quarter under grew by 21% yoy to Rs 2,156 crore, while total expenditure increased by 19.6% to Rs 2,053 crore over the previous year quarter.
On the operating front, EBITDA margins expanded 115 basis points yoy to 6.4%, driven by superior product-mix, operating leverage benefits and cost reduction initiatives.
The stock opened at Rs 94.40 and touched a high of Rs 97.80 on the BSE. A combined 2.05 million shares changed hands on the counter so far on the BSE and NSE.
