TVS Motor surges 10% after posting highest-ever revenue, profit in Q3

TVS Motor Company's operating performance was driven by price hikes, a favorable mix, and lower other expenses, Motilal Oswal said in a report

Shares of TVS Motor Company rallied 10 per cent to hit a fresh 52-week high of Rs 582 on the BSE on Friday after the company posted a strong performance by reporting highest ever revenue and net profit for the quarter ended December 2020 (Q3FY21), on the back of healthy operational performance.

The company's net profit more-than-doubled at Rs 266 crore during the quarter, against Rs 121 crore in Q3 of last year. It reported highest-ever revenue of Rs 5,404 crore in Q3FY21 as against Rs 4,126 crore in Q3FY19, registering a growth of 31 per cent.
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