TVS
Motor Company profit rose the most in 3 quarters
Chennai based TVS Motor Company Ltd.’s profit rose
the most in three quarters, beating analysts' estimates. The net profit rose
15.5 % year-on-year to Rs 178.4 crore in the December quarter. That compares with Rs 170-crore consensus
estimate of analysts tracked by Bloomberg.
Revenues rose 26.1 % on a yearly
basis to Rs 4,664 crore, led by higher volume. That too was higher than the Rs
4,555 crore forecast. The company sold 9.5 lakh units of two-wheelers between
October and December.
An increase of 19 % from the corresponding quarter last
year.
Tvs's three-wheeler sales rose
47 % on a yearly basis to nearly 40,000 units. The operating income or the
earnings before interest, tax, depreciation, and amortisation rose 25 % on a
yearly basis to Rs 375.7 crore—the consensus estimate was Rs 360 crore. The
company’s operating margin remained flat at 8.1 % during the period—analysts
had forecast 7.9 %.
Shares of the automaker TVS parred
losses and rose as much as 2.6 % to Rs 552 apiece after the results
announcement. That compares with a 1.9 % decline in the NSE Nifty Auto Index
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