Auto manufacturer TVS Motor posted a better-than-expected rise in third-quarter profit on Tuesday, aided by higher sales of its two- and three-wheeler vehicles.
Profit rose 15.6 per cent to Rs 178 crore ($24.92 million) in the three months ended December 31, from Rs 154 crore a year earlier, the company said.
Analysts on average had expected a profit of Rs 167 crore, according to Refinitiv Eikon data.
The company said sales of two-wheeler vehicles grew by 19 per cent while those of three-wheeler ones jumped 47 per cent, leading to a 26.1 per cent rise in revenue from operations.
($1 = Rs 71.43)