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TVS Motor Q3 results: Profit rises 22% to Rs 353 crore on price hikes

TVS', which operates in 80 countries including South Africa, Argentina and Sri Lanka, revenue from operations rose to Rs 6,545 crore from Rs 5,706 crore

TVS Motor
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TVS also declared an interim dividend of Rs 5 per share

Reuters
India's TVS Motor reported a bigger-than-expected rise in third-quarter profit on Tuesday, as the two-wheeler maker passed on the increase in expenses to its customers. Corporate India raised prices of everything from toothpaste to scooters in recent quarters as costs shot up due to the Russia-Ukraine war.

TVS' profit climbed nearly 22 per cent to Rs 353 crore ($43.25 million) for the quarter ended Dec. 31, with analysts attributing a bulk of it to price increases. Analysts had expected a profit of Rs 343 crore, according to Refinitiv data.
 
The Tamil Nadu-based company, which makes the popular Apache bikes and Jupiter

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jan 24 2023 | 5:25 PM IST

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