 "TVS")
Barring a strong top-line performance, TVS Motor's March quarter show was dismal. Major let down was the operating profit margin, with the metric coming in at 7 per cent - up 136 basis points over the year-ago period on a low base, but down 76 basis points over the December quarter.
This was way below the 8.4-8.9 per cent that analysts had estimated and no where close to the double-digit margin the company had indicated it would achieve in Q4. According to the management, higher raw material costs, wage costs, marketing expenses, and dealer incentives were some of the
This was way below the 8.4-8.9 per cent that analysts had estimated and no where close to the double-digit margin the company had indicated it would achieve in Q4. According to the management, higher raw material costs, wage costs, marketing expenses, and dealer incentives were some of the
