TVS Motor profit rises 21% YoY in September quarter at Rs 255 crore

TVS will perform better than the industry and report good numbers, says Radhakrishnan, TVS Motor's President

TVS Motor has reported a 20.7 per cent rise in profit at Rs 255.01 crore during the quarter ended September (Q2), against Rs 211.31 crore in the same period a year ago.  

The Street was expecting a double-digit decline in revenue and profit amid weak demand.

Profit before tax (PBT) for the quarter was Rs 310.3 crore, against Rs 306.2 crore a year ago. PBT of the quarter includes an exceptional gain of Rs 76 crore towards reversal of NCCD provision for Himachal Pradesh plant pertaining to earlier years. This is pursuant to a favourable order from the Customs, Excise and Service