 "TVS Motor dips post Q2 results")
TVS Motor Company has dipped 5% to Rs 240 on NSE after reporting a slightly lower-than-expected net profit of Rs 94.81 crore for the second quarter ended September 30, 2014 (Q2). The two-three wheelers maker had a profit of Rs 88.84 crore in the same quarter last year.
Net sales grew 34% to Rs 2,684 crore in July-September quarter against Rs 1,988 crore in the corresponding quarter of previous fiscal.
Analyst on an average had expected profit of Rs 101 crore on revenues of Rs 2,696 crore.
Total expenditure increased by 34% to Rs 2,557 crore on yoy basis. Raw material cost rose 46% to Rs 1,918 crore from Rs 1,313 crore over the previous year quarter.
The stock opened at Rs 255 and hit a low of Rs 240 on NSE. The counter has seen huge trading volumes with a combined 6.76 million shares changed hands till 1510 hours against an average sub 3 million shares that were traded daily in past two weeks on NSE and BSE.
Net sales grew 34% to Rs 2,684 crore in July-September quarter against Rs 1,988 crore in the corresponding quarter of previous fiscal.
Analyst on an average had expected profit of Rs 101 crore on revenues of Rs 2,696 crore.
Total expenditure increased by 34% to Rs 2,557 crore on yoy basis. Raw material cost rose 46% to Rs 1,918 crore from Rs 1,313 crore over the previous year quarter.
The stock opened at Rs 255 and hit a low of Rs 240 on NSE. The counter has seen huge trading volumes with a combined 6.76 million shares changed hands till 1510 hours against an average sub 3 million shares that were traded daily in past two weeks on NSE and BSE.