TVS Motor Co. Ltd. shares were in focus on Wednesday after the two-wheeler maker reported a strong set of June quarter earnings, with the stock rising as much as 4.57% to an intraday high of Rs 3,965, just shy of its 52-week high of Rs 3,970.
At 9:45 am, the stock was trading 4.28% higher at Rs 3,953.80. In comparison, the BSE Sensex was down 0.53% at 76,903.
The rally came after TVS Motor reported a 51.3% year-on-year (YoY) jump in net profit to Rs 1,174 crore for the June quarter, compared with Rs 776 crore in the year-ago period.
Revenue from operations rose 37.8% YoY to Rs 13,896 crore, while EBITDA increased 41.2% to Rs 1,780 crore. EBITDA margin improved to 12.8% from 12.5% a year earlier.
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The company said rising commodity prices, driven by global uncertainties, increased input costs during the quarter. However, the impact was partly offset through calibrated price hikes, cost optimisation measures and higher production volumes.
TVS Motor also posted its highest-ever quarterly sales, with total two- and three-wheeler sales rising 28% YoY to 1.63 million units, compared with 1.28 million units in the corresponding quarter last year.
Motorcycle sales grew 19% to 0.74 million units, while scooter sales surged 36% to 0.68 million units.
The company's international business continued to gather momentum, with sales increasing 33% to 0.47 million units during the quarter.
Electric mobility remained a key growth driver, with electric two-wheeler sales soaring 86% YoY to 129,940 units from 70,060 units a year earlier. TVS Motor said it has now crossed the milestone of one million EV customers.
The three-wheeler business also delivered a strong performance, with sales rising 48% to 66,697 units, reflecting healthy demand across domestic and export markets.
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