TVS Motor net halves, plans news models for growth

Newswire

MUMBAI, Jan 25 (Reuters) - TVS Motor Co Ltd. , India's No.3 motorcycle maker, reported its October-December net profit almost halved, missing analyst forecasts, hit by lack of cheap loans, bike models and cut throat competition. The company said in a statement its higher-margin motorcycle volumes fell by a fifth to 176,158 units in the third quarter, dragging down net profit to 58.3 million rupees and sales by 6.5 percent to 8.75 billion rupees. Analysts polled by Reuters estimated a net ...

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