TVS Motor Company Faces 3% Dip Despite Exceeding Q2 Profit Expectations

In Tuesday’s trading session, shares of TVS Motor Company Ltd experienced a 3% decline, despite the company’s second-quarter profit surpassing expectations.

The automobile manufacturer reported a profit of ₹527 crore in the three months ending September 30, reflecting a robust 31.7% increase from the previous year. Analysts had anticipated a profit of ₹525 crore, according to LSEG data.

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TVS Motor’s performance was driven by the strong demand for its more affordable range of two-wheelers and electric vehicles.

Although the stock opened at ₹1,634, it touched an intraday low of ₹1,585.45, ultimately settling at ₹1,598.95 apiece on the NSE, marking a 0.61% decrease.

Over the last six months, the company’s stock has seen a notable 38% rise. Comparatively, on a year-to-date basis, TVS Motor’s shares have surged by 50%, outpacing the Nifty Auto index’s 27% climb.

During the quarter, TVS Motor reported a 10% increase in scooter sales and a 3% rise in motorcycle sales, highlighting the continued demand for their diverse range of vehicles.

At 12:38 pm the shares were trading at ₹1,598.50, 0.64% lower