India’s TVS Motor misses Q2 profit view on higher costs

TVS Motor Company reported a lower-than-expected quarterly profit due to higher costs, despite stable demand. The profit rose by 23.5% to ₹6.63 billion, missing analysts’ estimates. The company incurred an expense of ₹288.8 million due to changes in inventories, impacting overall profits. Total expenses increased by 12%, with revenue from operations rising by 13.3%. Two-wheeler sales increased by 15% year-over-year. Rival Bajaj Auto posted a 21% rise in profit, while Hero MotoCorp is yet to report results. TVS Motor’s shares fell by 6.6% after the results were announced.