TVS Motor Shares Climb Nearly 6% After Q4 Result
TVS Motor Company’s shares experienced a notable increase of over 6% following the release of its fourth-quarter results, which revealed a 15% surge in consolidated net profit for the period ending March 2024. The stock’s value rose by 5.73% to ₹ 2,121.30 on the BSE, while on the NSE, it climbed by 6.32% to ₹ 2,123.
The company’s improved performance was driven by a 22% growth in overall two-wheeler and three-wheeler sales, including exports. This resulted in sales reaching 10.63 lakh units, compared to 8.68 lakh units in the same period of the previous fiscal year.
For the full year ended March 31, 2024, TVS Motor’s consolidated net profit witnessed a significant increase of 26.9% to ₹ 1,686 crore. Additionally, revenue from operations grew by 22.4% to ₹ 39,145 crore.
This positive financial performance has contributed to the rise in TVS Motor’s share price, reflecting the company’s strong position in the automotive industry and its commitment to delivering value to shareholders.
