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