TVS Motor has disappointed street with its operational performance in January-March quarter. Its net profit climbed 30.1 percent in Q4FY16 at Rs 117.8 crore from 90.5 crore in corresponding quarter last fiscal.
The two-wheeler maker’s total income rose 15.2 percent in Q4 at Rs 2815 crore compared to Rs 2443 crore in year-ago period. TVS Motor missed margin estimates despite reduction in raw material prices.
During the period, its EBITDA rose 19.4 percent at Rs 178.5 crore compared to Rs 149.5 crore year-on-year (YoY). In Q4, EBITDA margin stood at 6.3 percent versus 6.1 percent (YoY).