TVS Motor Q4 Profit Misses Estimates on Higher Costs
TVS Motor reported a 31 percent rise in quarterly profit, missing estimates as rising costs offset demand. Revenue grew 34 percent on robust sales and exports.
TVS Motor, India's third-largest two-wheeler maker, reported a 31% rise in fourth-quarter profit to 9.98 billion rupees ($104.28 million) on Wednesday. The result narrowly missed the 10.09 billion rupee average estimate compiled by LSEG as rising raw material costs offset strong domestic demand. High input expenses remain a hurdle for TVS Motor even as it scales production of electric scooters.
### Rising Costs Pressure Margins Total expenses for TVS Motor climbed 35.2% during the March quarter. Despite this pressure, revenue from operations rose 34% to 128.08 billion rupees, exceeding analyst expectations. The EBITDA margin expanded 60 basis points to 13.1% during the period.
