TVS Motor’s overall two-wheeler sales, including exports, rose 14%, with motorcycle sales outpacing scooter sales. Photo: Mint
Bengaluru: TVS Motor Co. Ltd’s first-quarter profit rose 13% on higher sales, but fell short of analysts’ estimates as raw material prices rose. Net profit stood at Rs 147 crore in the quarter ended 30 June, compared with Rs 129 crore a year ago, the company said on Tuesday.
Analysts on average had expected a profit of Rs 173 crore, according to Thomson Reuters I/B/E/S.
Overall two-wheeler sales, including exports, rose 14%, with motorcycle sales outpacing scooter sales. Exports rose 52% to 190,000 units.
At 2.16pm, TVS Motors shares rose 2.67% to Rs 542.20.