Chennai: TVS Motor Co. Ltd reported a 21.2% increase in first-quarter profit, missing analysts’ estimates.
Net profit at the two-wheeler maker increased to Rs. 121.25 crore from Rs.100.08 crore a year earlier. A Bloomberg survey of analysts had estimated a profit of Rs.123.10 crore.
Net sales rose to Rs.2,852.59 crore from Rs.2,543.59 crore a year ago.
Analysts estimated sales at Rs.3, 051.60 crore.
On Tueday, TVS Motor’s shares fell 3.08% to Rs.291.40 on BSE, while the exchanges Sensex lost 0.42%.