TVS Motor shares fall 3% after Q2 earnings miss estimates. Here’s what analysts say
TVS Motor Company fell by 3% to the day’s low of Rs 2,490 on the BSE after the company reported a lower-than-expected quarterly profit, hurt by higher costs, even as demand was stable.
The 'Jupiter' scooter maker's profit rose 23.5% to Rs 663 crore in the quarter ended September 2024, which missed analysts' estimate of Rs 697 crore.
During the quarter, it incurred a Rs 28.9 crore expense due to changes in inventories, compared to an income of Rs 261 crore a year ago. This pushed its total expenses up nearly 12%, with the cost of materials consumed increasing 4.3% in the quarter.
After the company’s Q2 results, here is what analysts across various brokerage firms say:
Investec on TVS Motor: Buy | Target price: Rs 3,050
Investec has maintained a Buy rating on the stock while hiking the target price to
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