Moneycontrol BureauTVS Motor posted net profit at Rs 141.3 crore, up 45 percent in April-June quarter from Rs 97.2 crore in year-ago period. During the quarter, total income rose 11.9 percent at Rs 2881 crore against Rs 2574.1 crore year-on-year.
EBITDA in Q1 was up 16 percent at Rs 200.4 crore versus Rs 172.6 crore and operating profit margin was at 6.9 percent versus 6.7 percent (YoY).
According to a CNBC-TV18 poll, TVS Motor was expected to report net profit at Rs 121 crore in April-June quarter while revenue was seen rising 15 percent to Rs 3018 crore in Q1FY17.
However, its margins failed to deliver yet again. Despite revnue growth of 12 percent, margins were up only 20 basis points (YoY): margins at 6.9 percent was below expectations (7 percent).
Realisations in Q1 were down 0.5 percent (YoY) at RS 40100 per unit against Rs 40300/unit. Lower share of exports and higher moped sales impacted realisations.
Employee expenses to sales were up 50 bps to 6.3 percent (QoQ).
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
