TVS Motor has reported a 6.80 per cent decline in net profit at Rs 126.77 crore for the quarter ended March 31, 2017. It had reported net profit of Rs 136.03 crore in the corresponding quarter of the previous year.
On a year-on-year (y-o-y) basis, total income of the company went up 1.57 per cent to Rs 3,139.22 crore against the Rs 3,090.77 crore reported during the same period of the previous year.
The quarterly profit of the two-wheeler major is inclusive of a one-time provision of Rs 57 crore (discounts for BS-III products sold by dealers during March 2017). TVS Motor started production of BS-IV emission compliant products from January 2017.
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