Share of TVS Motor gained over 9% in Friday's opening trade despite the company reporting a decline of 23% in its net profit at Rs 196 crore. The company had posted a net profit of Rs 256.88 crore in the July-September period of the previous fiscal.
Snapping their two-day losing streak, shares of TVS Motor rose as much as 9.27% to the intraday high of Rs 461.4 on BSE, as against the last close of Rs 422.25 on BSE. The stock opened with a gain of 2.39% today at Rs 425, also its intraday low today.
Stock price of TVS Motor trades higher than 5, 100 and 200-day moving averages but lower than 20 and 50-day moving averages.
The stock has gained 1.21% in the last week. Market capitalisation of the firm stood at Rs 21,386 crore as of today's session.
TVS Motor Company reported 6% growth in its revenue at Rs 4,617 crore in the for the September quarter as against Rs 4,353 crore in the second quarter of 2019-20.
Earnings before interest, tax, depreciation and amortisation (EBITDA) improved 12.6% to Rs 430 crore, while its EBITDA margin grew 55 basis points to 9.3%.
The Chennai-based two-and three-wheeler maker sold 868,000 vehicles during the quarter including exports, down 2% YoY.
"Despite COVID-19 challenges, the company strengthened its supply chain during the second quarter of 2020-21. The production and sales improved consistently from July 2020 onwards," TVS Motor said in a statement.
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