TVS Motor Company's Q4 Results Announced; Profits Down By 7 Per Cent
Reuters
1 min read
Apr 28, 2017, 01:51 AM
Key Highlights
- TVS' profit was impacted by the huge discounts given for BS-III vehicles
- TVS recorded a net profit of Rs. 1.27 billion in the last quarter of 2017
- TVS managed to make more profit than estimated by analysts
India's TVS Motor Co Ltd said on Thursday net profit fell nearly 7 percent in the fourth quarter hurt by lower motorcycle sales at home, but beat analysts' estimates.
The company said net profit came in at 1.27 billion rupees ($19.80 million) in the March quarter, while total income climbed 1.6 percent to 31.39 billion rupees.
The company also said profit for the quarter was impacted by a one-time provision of 570 million rupees towards discounts for BS III compliant vehicles sold by the dealers in March.
Analysts were on average expecting profit of 1.09 billion rupees, according to Thomson Reuters data.
Shares were trading 2.7 percent lower as of 0900 GMT on the National Stock Exchange
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