TVS Motor up over 5% as Q3 profit beats forecast

The stock up 5.5% to Rs 402 on NSE after reported 10% growth in net profit at Rs 133 crore in Q3.

TVS Motor Company has moved higher by 5.5% to Rs 402 on the National Stock Exchange (NSE), after the company reported a better than expected 10% year on year (YoY) growth in net profit at Rs 133 crore for the quarter ended December (Q3FY17).

Revenues from operations grew by 3% YoY to Rs 3,240 in Q3FY17 as against Rs 3,151 crore recorded in the quarter ended December 2015. EBITDA (earnings before interest, tax, depreciation and amortization) margin remained unchanged at 6.7% during the quarter.

Analyst on an average had expected profit of Rs 100 crore on revenues of