October 23, 2018 / 8:08 AM / 23 days ago

India's TVS Motor Q2 profit drops on higher commodity prices

Oct 23 (Reuters) - 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 2.11 billion rupees ($28.64 million) in the quarter ended Sept. 30, compared with 2.13 billion rupees a year ago, beating analysts' estimates of 2.10 billion rupees, according to Refinitiv data. bit.ly/2AoVXXH

The cost of materials consumed in the Sept quarter surged 20.1 pct to 36.96 billion rupees.

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.

$1 = 73.6725 Indian rupees Reporting by Tanvi Mehta and Mekhla Raina in Bengaluru, Editing by Sherry Jacob-Phillips

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below