Two-wheeler makers ride high post Q3 results

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Two-wheeler makers ride high post Q3 results

SI Reporter / Mumbai 20 Jan 12 | 02:09 PM

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Bajaj Auto and Hero MotoCorp are trading higher by 4% each after both companies posted better-than-expected financial results for the third quarter ended December 2011.

Bajaj Auto has rallied 7% to Rs 1,564 in noon deals on the Bombay Stock Exchange (BSE). The country’s second biggest two-wheeler maker posted a 19% year-on-year (y-o-y) growth in stand-alone net profit at Rs 795 crore on back of higher export volumes in Q3. Net sales revenue for the company in the third quarter was up 22% at Rs 4,840 crore against Rs 3,980 crore in the comparable period.

Hero MotoCorp, the largest manufacturer in this segment, has surged 5% to Rs 1,994 after reporting 43% y-o-y growth in net profit at Rs 613 crore for the reporting quarter on the back of better growth in income from operations. Net sales grew by 17% to Rs 5,983 crore on y-o-y basis..

TVS Motor too, rallied 5% to Rs 52.45 on the BSE. The board of the company will consider Q3 results on January 31, 2012.