Strong operating performance. Lower other income impacted PAT TVS Motor (TVSL) reported good set of numbers with top line growth of 23% supported by 15% volume growth which was largely led by exports. Margin profile upward trend is a positive surprise and we expect margins to sustain / improve from these levels. Improvement in product mix coupled with operational efficiency will support / expand margin profile. TVSL volume growth is expected to remain in mid-teens and will continue...