Revenue grew 31 percent on yearly basis to Rs 2,305.4 crore during April-June quarter on account of strong sales volumes. Total two-wheeler sales of the company grew by 22 percent to 5.59 lakh units in the quarter ended June 2014, increasing from 4.60 lakh units in the corresponding quarter of the previous year.
Shares of TVS Motor Company nose dived 7 percent intraday on Thursday as investor grew worried after it posted April-June quarter earnings. two-wheeler maker by volumes, missed street expectations with the first quarter (April-June) net profit rising 39.3 percent at Rs 72.3 crore compared to Rs 51.9 crore in the year-ago period impacted by higher expenses.
According to CNBC-TV18 poll estimates, analysts had expected the company to report net profit of Rs 100 crore on revenue of Rs 2,336 crore for the quarter.
Revenue grew 31 percent on yearly basis to Rs 2,305.4 crore during April-June quarter on account of strong sales volumes. Total two-wheeler sales of the company grew by 22 percent to 5.59 lakh units in the quarter ended June 2014, increasing from 4.60 lakh units in the corresponding quarter of the previous year.
"Motorcycle sales grew by 23 percent Y-o-Y to 2.28 lakh units in the quarter ended June 2014 and scooter sales rose 55 percent to 1.52 lakh units while two and three wheeler exports registered a growth of 47 percent with sales increased to 0.97 lakh units," said the company in its filing.
The stock ended at Rs 158.70, down Rs 10.75, or 6.34 percent on the BSE.
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