TVS Motor shares surge over 7% after earnings

Shares of TVS Motor Co today rose by over 7 per cent after the company reported a net profit of Rs 52.12 crore in the fourth quarter ended March 31, 2014.
TVS Motor's stock surged 6.10 per cent to close at Rs 92.25 on the BSE. In intra-day, the scrip climbed 8.97 per cent to Rs 94.75.
At the National Stock Exchange, the stock rose by 7.36 per cent to end at Rs 93.35.
In terms of volume, 22.67 lakh shares changed hands at the BSE, while more than 97 lakh shares were traded at the NSE during the day.

The company had posted a loss of Rs 32.72 crore in the January-March quarter of the previous year.
Net sales during the quarter under review stood at Rs 2,120.77 crore as against Rs 1752.16 crore in the same period last year.

Motorcycles sales during the fourth quarter increased to 1.97 lakh units from 1.85 lakh units in the year-ago period, while scooter sales jumped to 1.37 lakh units from 0.95 lakh units, the company said in a statement.
The directors have declared a second interim dividend of 75 paisa per share on the share capital of Rs 47.51 crore for the year 2013-14.

For the financial year ended March 31, 2014, the company posted a consolidated net profit of Rs 186.30 crore, down 5.6 per cent, as against Rs 197.54 crore in the previous fiscal.
Net sales for the fiscal 2013-14 stood at Rs 8,272.51 crore as against Rs 7,408.65 crore in the previous year.