HomeEarnings NewsTVS Motor Q2 profit drops on higher commodity prices

TVS Motor Q2 profit drops on higher commodity prices

Profit came in at Rs 211 crore ($28.64 million) in the quarter ended September 30, compared with Rs 213 crore a year ago, beating analysts' estimates of Rs 210 crore, according to Refinitiv data.

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By Reuters October 23, 2018, 2:03:31 PM IST (Updated)

Auto manufacturer TVS Motor Co Ltd posted about 1 percent fall in second-quarter profit on Tuesday, dented by higher commodity prices.


Profit came in at Rs 211 crore ($28.64 million) in the quarter ended September 30, compared with Rs 213 crore a year ago, beating analysts' estimates of Rs 210 crore, according to Refinitiv data. The cost of materials consumed in the Sept quarter surged 20.1 percent to Rs 3,696 crore.

The manufacturer of two- and three-wheeler vehicles sold about 1.1 million vehicles during the quarter, leading to a 22.8 percent rise in revenue from operations.

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