REUTERS - TVS Motor Company Ltd reported a 20 percent rise in quarterly profit on Wednesday, matching analysts’ estimates, as it sold about 16 percent more two wheelers than the year-ago quarter.
Profit for the quarter ended Sept. 30 came in at 2.13 billion rupees ($33 million) compared with 1.77 billion rupees last year. bit.ly/2z3hULJ
Analysts on average were expecting a profit of 2.13 billion rupees, according to Thomson Reuters data.
The company’s total two-wheeler sales volume, including exports, rose to 923,000 units from 795,000 vehicles earlier.
($1 = 64.5375 rupees)
Reporting By Arnab Paul and Samantha Kareen Nair in Bengaluru; Editing by Amrutha Gayatri and Biju Dwarakanath
