India's TVS Motor misses Q4 profit estimate as costs rise
India, May 8 -- India's TVS Motor Company reported a smaller-than-expected fourth-quarter profit on Wednesday, as higher costs overshadowed steady demand for its two-wheelers. The maker of Jupiter scooters and Apache motorcycles said its profit rose 18.3% from a year earlier to 4.85 billion rupees ($58 million) in the quarter ending March 31, missing analysts' estimate of 5.52 billion rupees, per LSEG data.
Revenue from operations rose nearly 24% to 81.69 billion rupees, beating analysts' estimates of 80.08 billion rupees.
The rise in revenue was offset by the near 22% rise in total expenses, which was led by a more than 23% increase in the cost of materials consumed.
Key input commodity costs for automakers, like copper, rubber and le...
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