TVS Motor share price rose in trade today despite the auto firm reporting a 20.7 per cent fall in consolidated net profit for the third quarter ended December 31 hit by lower sales during the period. Share price of TVS Motor gained up to 6.25% to Rs 482.95 compared to the previous close of Rs 454.55 on BSE.The large cap stock has lost 7.4% in last one year and fallen 1.58% since the beginning of this year. The firm reported a profit of Rs 156.84 crore in the third quarter against net profit of Rs 197.79 crore in the December quarter of 2018-19.
Total income fell to Rs 4,779.32 crore for the third quarter as compared with Rs 5,123.50 crore in the year-ago period, the firm said.
Overall two-wheeler sales during the third quarter stood at 7.73 lakh units compared with 9.5 lakh units for the quarter ended December 2018.
Motorcycle sales for the quarter under review stood at 3.25 lakh units as compared with 3.78 lakh units in the year-ago quarter. Similarly, scooter sales stood 2.8 lakh units for the third quarter as compared with 3.54 lakh units in the year-ago period.
On the other hand, total three-wheelers sales grew 22.1 per cent to 48,391 units in the said quarter as against 39,629 units in October-December period of 2018-19.
Total exports grew 22.6 per cent to 2.17 lakh units during the third quarter as against 1.77 lakh units in the year-ago period.
BY Aseem Thapliyal