TVS Motor Q4 Net Profit Fell 7%, Hurt by Lower Sales at Home
TVS net profit fell nearly 7 percent in the fourth quarter hurt by lower motorcycle sales at home
TVS Apache RTR 200 4V. (Photo: Siddharth Safaya/News18.com)
India's TVS Motor Co Ltd said on Thursday net profit fell nearly 7 percent in the fourth quarter hurt by lower motorcycle sales at home, but beat analysts' estimates.
The company said net profit came in at 1.27 billion rupees ($19.80 million) in the March quarter, while total income climbed 1.6 percent to 31.39 billion rupees.
The company also said profit for the quarter was impacted by a one-time provision of 570 million rupees towards discounts for BS III compliant vehicles sold by the dealers in March.
Analysts were on average expecting profit of 1.09 billion rupees, according to Thomson Reuters data.
Shares were trading 2.7 percent lower as of 0900 GMT on the National Stock Exchange.
Don't Miss:(Get detailed and live results of each and every seat of the state Assemblies in Madhya Pradesh, Rajasthan, Telangana, Chhattisgarh and Mizoram to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you put on the psephologist's hat. Know interesting facts and trivia about the elections. Elections = News18)
Recommended For You
- Vidya Balan Can’t Stop Gushing About Meeting Hillary Clinton at Isha Ambani’s Sangeet, See Pic
- Saira Banu to Ring in Dilip Kumar’s 96th Birthday Amid Family and Friends
- Samsung Galaxy A9 Review: Are Quad Cameras in a Phone Really Better Than Triple or Dual Cameras?
- Top 5 Android Phones Under Rs 20,000 to Play PUBG: Xiaomi Redmi Note 6 Pro, Poco F1 And More
- Scientists Decode How to Survive in Game of Thrones
- 01 d
- 12 h
- 38 m
- 09 s