Shares of TVS Motor Company on Wednesday jumped over 17 percent after the company posted nearly four-fold increase in its consolidated net profit for the fourth quarter ended March 31, 2021.
The stock zoomed 16.74 percent to its one-year high of Rs 661.10 on BSE. On NSE, it rallied 17.25 percent to Rs 664 -- its 52-week high. The earnings came in after market hours on Tuesday.
TVS Motor Company posted nearly four-fold increase in its consolidated net profit to Rs 319.19 crore for the fourth quarter ended March 31, 2021, riding on the back of robust sales in the domestic and international markets.
The company had reported a net profit of Rs 81.84 crore during the January-March quarter of 2019-20.
Revenue from operations rose to Rs 6,131.90 crore in the fourth quarter from Rs 4,104.71 crore in the same period of 2019-20 fiscal, TVS Motor said in a regulatory filing.
During the period under review, the company said its total two-wheeler and three wheeler sales across domestic and international markets stood at 9.28 lakh units, up 47 per cent from 6.33 lakh units sold in the fourth quarter of 2019-20.
For the entire 2020-21 fiscal, the company posted a net profit of Rs 607.50 crore as against Rs 646.80 crore in the FY20, a decline of 6.07 per cent.
Consolidated revenue from operations rose to Rs 19,420.82 crore in FY21 from Rs 18,849.31 crore in 2019-20.