TVS Motor Q1 profit up 7% at Rs 129 cr; misses estimates

Profit included provision of Rs 16.5 cr, which was offered to dealers as additional discount

TVS Motor Co Ltd posted a nearly 7 percent rise in quarterly profit on Friday at Rs 129 crore in the first quarter ended June 30, compared with Rs 121 crore a year ago.

Profit included provision of Rs 16.5 crore, which was offered to dealers as additional discount to clear out inventory before the launch of GST on July 1.

The company's total two-wheeler sales, which included exports, rose by 12 percent to 785,000 vehicles.

Total income rose 18% to Rs 3,800 crore as against Rs 3,184 crore in June 2016.