TVS Motor Q4 profit falls about 7% to Rs127 crore
- Deals Buzz: Bain Capital takes $450 million bridge loan to fund Axis Bank deal
- Skymet raises Series C funding from Germany’s InsuResilience Investment Fund
- Honor Holly 4 Review: Close to Xiaomi Redmi 4, but not better
- Ten Indian films that faced trouble in Pakistan
- Gujarat elections: Results indicate people not happy with BJP, says Shiv Sena
Bengaluru: India’s TVS Motor Co Ltd said on Thursday net profit fell nearly 7% in the fourth quarter hurt by lower motorcycle sales at home, but beat analysts’ estimates.
The company said net profit came in at Rs127 crore ($19.80 million) in the March quarter, while total income climbed 1.6% to Rs3139 crore.
The company also said profit for the quarter was impacted by a one-time provision of Rs57 crore towards discounts for BS III compliant vehicles sold by the dealers in March.
Analysts were on average expecting profit of Rs109 crore, according to Thomson Reuters data.
Shares were trading 2.7% lower as of 0900 GMT on the National Stock Exchange. Reuters