TVS Motor Company rose 3.12% to Rs 51.30 at 14:14 IST on BSE after net profit jumped 96.59% to Rs 88.84 crore on 16.12% increase in total income from operations to Rs 1988.37 crore in Q2 September 2013 over Q2 September 2012.
The result was announced during trading hours today, 25 October 2013.
Meanwhile, the BSE Sensex was up 19.41 points, or 0.09%, to 20,744.84.
On BSE, 6.03 lakh shares were traded in the counter compared with average volume of 2.17 lakh shares in the past one quarter.
The stock hit a high of Rs 51.80 and a low of Rs 49.80 so far during the day. The stock hit a 52-week high of Rs 52.50 on 23 October 2013. The stock hit a 52-week low of Rs 28.10 on 31 July 2013.
The stock had outperformed the market over the past one month till 24 October 2013, rising 42.75% compared with the Sensex's 4.04% rise. The scrip had also outperformed the market in past one quarter, gaining 57.44% as against Sensex's 3.16% rise.
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The mid-cap company has an equity capital of Rs 47.51 crore. Face value per share is Re 1.
TVS Motor Company reported an exceptional gain of Rs 30.28 crore in Q2 September 2013. Profit before tax and exceptional item jumped 52% to Rs 88.17 crore in Q2 September 2013 over Q2 September 2012.
During the quarter ended September 2013, the company divested its majority stake in TVS Energy. The profit on sale of stake is shown as an exceptional gain. TVS Energy and its two subsidiaries ceased to be subsidiaries of the company with effect from 16 August 2013.
Total two-wheeler sales of the company grew by 2% to 4.79 lakh units in the quarter ended September 2013 in Q2 September 2013. During the period under review, motorcycle sales grew 18% to 1.97 lakh units, while scooter sales declined 2.52% to 1.16 lakh units.
Two wheeler exports rose 27% to 0.61 lakh units in Q2 September 2013 over Q2 September 2012.
Three wheeler sales jumped 85% to 0.23 lakh units in Q2 September 2013 over Q2 September 2012.
TVS Motor Company is one of the leading two-wheeler manufacturer in India.
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