Volume growth, valuation concerns to cap gains in TVS Motor stock

Auto major TVS Motor Company reported a healthy set of financials for the March quarter on both the revenues and margin fronts. Reported revenues were up 16.9 per cent over the year-ago quarter and were largely volume-led, given the marginal increase in average unit prices. Operating profit margins too were up 262 basis points to 14 per cent.

 

Adjusted numbers for the quarter, given the recognition of production-linked incentives in Q4, were broadly in line with Street estimates.

 

Despite the Q4 show, the stock was the biggest loser in the BSE 100 index, falling 3.6 per cent at close, given