TVS Motor Company Ltd reported an about 16 per cent rise in quarterly profit on Tuesday, helped by higher sales in the motorcycles segment.
Net profit for the third quarter ended December 31 came in at Rs 154 crore ($24.15 million), compared with Rs 133 crore in the year-ago quarter.
Analysts on average estimated a net profit of Rs 168 crore, according to Thomson Reuters data.
Two-wheeler sales including exports increased 13.8 per cent to 799,000 units with motorcycles sales rising to 314,000 units.
At 12:52 pm, shares in TVS Motor were trading 1.9 per cent lower at Rs 706 on the BSE, whose benchmark index was down 213 points, or 0.58 per cent.
($1 = Rs 63.76)
© Thomson Reuters 2018