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TVS Motor Profit Rises 16%, Misses Q3 Estimates

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 31st was Rs. 154 crore (24.15 million dollars).

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.