TVS Motor share rose over 16% today after the auto firm reported nearly four-fold rise in its consolidated net profit in Q4. The share hit fresh 52-week high of Rs 661.1 today, rising 16.74% against previous close of Rs 566.30 on BSE.
TVS stock has gaining 20.42% in the last 3 days The share opened with a gain of 6.66% at Rs 604 today.
TVS Motor share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The auto stock has gained 116.89% in one year and risen 32.22% since the beginning of this year.
Market cap of the firm rose to Rs 30,500 crore on BSE. At 11: 44 am, the large cap stock was trading 13.57% higher at Rs 643.15 on BSE.
TVS Motor Company reported net profit of Rs 319.19 crore in Q4 on the back of robust sales in the domestic and international markets. The company 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 Q4 from Rs 4,104.71 crore in the same period of 2019-20 fiscal.
The company said its total two-wheeler and three wheeler sales across domestic and international markets stood at 9.28 lakh units, up 47 percent from 6.33 lakh units sold in the fourth quarter of 2019-20.
For 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 percent. Consolidated revenue from operations rose to Rs 19,420.82 crore in FY21 from Rs 18,849.31 crore in 2019-20.
"During the year, focused working capital management and improved operating performance helped the company generate free cash flow of Rs 1,887 crore. These proceeds are used to reduce the debt," TVS Motor said.