Indian auto manufacturer TVS Motor Co Ltd 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 percent to 1.78 billion rupees ($24.92 million) in the three months ended Dec. 31, from 1.54 billion rupees a year earlier, the company said.
Analysts on average had expected a profit of 1.67 billion rupees, according to Refinitiv Eikon data.
The company said sales of two-wheeler vehicles grew by 19 percent while those of three-wheeler ones jumped 47 percent, leading to a 26.1 percent rise in revenue from operations.
($1 = 71.4300 rupees)