Shares of TVS Motors Company Ltd rallied 6% on 9 May after the company posted a strong quarterly report for January-March. 

The two-wheeler manufacturer reported an 18% year-on-year increase in its net profit to Rs 485 crore during the quarter from Rs 410 crore reported in the same quarter of the previous fiscal year. 

The revenue from operations of the company during the quarter stood at Rs 8,169 crore, marking a 24% YoY increase from Rs 6,605 crore reported in the corresponding quarter of March 2023.

The earnings before interest, tax, depreciation, and amortisation (EBITDA) margins expanded by 100 basis points to 11.1% during the quarter compared to 10.1% last year. 

The Q4 results were strong due to the robust sales volume, better pricing, benign commodity costs, and healthy product mix. 

The company achieved record sales for its two and three-wheelers during the fiscal year 2023-24, marking a 14% YoY growth to 41.91 lakh units from 36.82 lakh units during the fiscal year 2022-23.

At 12:44 pm, the shares of TVS Motors were trading 4.03% higher at Rs 2,077.15 on NSE.