INSUBCONTINENT EXCLUSIVE:
Foreign brokerage houses including Credit Suisse and CLSA remained bearish on TVS Motor Company after it posted lower-than-expected
financial results for the quarter ended March 2018.
As a result, the scrip plunged over 2 per cent to Rs 596 on BSE in early trade.
Global
execution on products, but double-digit margins seems to be a pipe dream
Management has refused to give any guidance on achieving double-digit margins
posted nearly 31 per cent rise in quarterly profit, helped by higher vehicle sales at home and growth in exports, but missed analysts'
The company reported net profit of Rs 165.61 crore in Q4FY18 over Rs 126.77 crore in Q4FY17
Analysts on average expected a quarterly profit of Rs 204 crore, Thomson Reuters Eikon data showed.
