TVS Motor Company surged 6.1% to Rs 92.25 at 15:25 IST on BSE after the company reported a profit after tax of Rs 52 crore in Q4 March 2014 as against net loss of Rs 33 crore in Q4 March 2013.
The Q4 result was announced during trading hours today, 29 April 2014.
Meanwhile, the S&P BSE Sensex was down 160.32 points or 0.71% at 22,471.29.
The stock spurted on heavy volumes. On BSE, so far 22.04 lakh shares were traded in the counter as against average daily volume of 2.40 lakh shares in the past two weeks.
The stock hit a high of Rs 94.75 and a low of Rs 88 so far during the day.
TVS Motor Company's revenue rose 21% to Rs 2156 crore in Q4 March 2014 over Q4 March 2013.
TVS Motor Company's net profit jumped 126% to Rs 262 crore on 11% growth in total revenue to Rs 7962 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
TVS Motor Company said that new launches and upgrades which the company introduced across the scooter and motorcycle segments augmented an increase in sales, aiding significant bottom line growth during FY 2014.
During the year, the company strengthened its presence in the scooter segment introducing TVS Jupiter, styled to enthuse the male customer. TVS Jupiter went on to become the most awarded scooters in India, the company said in a statement.
With regard to its future business outlook, TVS Motor said it will introduce its all new TVS StaR City+ and all new scooty: TVS Zest during the course of the year. Both products were showcased at this year's Auto expo. In addition to these new launches, the company has also planned upgrades across segments to strengthen the product portfolio. With improved product presence in various segments of the industry, TVS Motor Company expects to better its performance in the ongoing fiscal.
TVS Motor Company is one of the leading two-wheeler manufacturers in India.
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