TVS Motor shares gain after November auto sales increase 30%, beat estimates

Shares of TVS Motor Company Ltd. gained over 3% on Monday, December 1, after the company's monthly auto sales beat Street estimates. 

Its overall sales for November came in at 5.19 lakh vehicles, above the CNBC-TV18 poll of 4.9 lakh units. This was also 30% more than the 4.01 lakh vehicles the company sold in November last year. 

TVS Motor sold a total of 4.98 lakh units of two-wheelers, up 27% from the previous year's 3.92 lakh units. This included 2.42 lakh units of motorcycles and 2.10 lakh units of scooters.

The sale of electric vehicles increased 46% to 38,307 units from last year's 26,292 units.

TVS Motor sold a total of 21,667 units of three-wheelers in November, up from last year's 8,777 units. 

Its international sales increased 58% to 1.48 lakh units from 93,755 units in the year-ago period. 

In the second quarter, the automaker's net profit rose 37% to ₹906 crore from ₹663 crore in the previous year. Its revenue was up 29% at ₹11,905 crore from ₹9,228 crore last year.

TVS Motor's earnings before interest, tax, depreciation and amortisation (EBITDA) increased 40% to ₹1,508 crore from ₹1,080 crore in the previous year. Its margins improved to 12.7% from 11.7% in the year-ago period.

Shares of TVS Motor were trading 3.08% up at ₹3,640.30 apiece. The stock has gained 51.3% this year, so far.

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