TVS Motor Profit Rises 16%, Misses Q3 Estimates

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As a result of increased sales in the motorcycle segment, TVS Motor Company Ltd. recorded a 16% rise in Q3 profits. As compared to last year (net profit of Rs. 133 crores), the net profit for the quarter ending December 31^st was Rs. 154 crore (24.15 million dollars).

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However, Thomson Reuters reports had suggested an estimated profit of Rs. 168 crore in the last quarter. Even though the estimated target was not met, the sales of two-wheelers witnessed a 13.8% rise with 799,000 units being sold (including exports) in the previous quarter. Out of this, around 314,000 units were motorcycles.