The Chennai-based two- and three-wheeler manufacturer TVS Motors Limited shares gained more than 5% and traded at Rs 1,376.50 around 12:30 pm on July 25 on the NSE. The rally comes after the company reported a 46% rise in net profit to Rs 468 crore for the June quarter.

The company saw a 20% jump in revenue to Rs 7,218 crore against Rs 6,006 crore in the year-ago period.

The company achieved its highest-ever operating EBITDA of 27% to Rs 764 crore from Rs 599 crore last year.

TVS Motors EBITDA margins improved by 60 basis points to 10.6% against the 10% in Q1FY23. The company also reported the highest-ever profit before tax of Rs 610 crore, recording a growth of 41% over Rs 432 crore last year.

The motor company has sold 39,000 units of its electric scooters for the quarter under review, against the 9,000 units sold in the same quarter of the previous fiscal year.

The shares of TVS Motors touched a new 52-week high of Rs 1,387 a piece in today’s intraday session.