Stocks

TVS Motor shares decline nearly 5% after Q1 earnings

PTI New Delhi | Updated on July 30, 2020 Published on July 30, 2020

Shares of TVS Motor Company on Thursday dropped nearly 5 per cent after the company reported a standalone net loss of ₹139.1 crore for the first quarter ended June 30.

It declined 4 per cent to ₹385.70 on the BSE.

On the NSE, it fell 4.77 per cent to ₹383.70.

TVS Motor Company on Wednesday reported a standalone net loss of ₹139.1 crore for the first quarter ended June 30, with COVID-19 severely impacting sales during the period.

The company had posted a profit after tax of ₹142.3 crore for April-June, 2019-20.

 

The revenue on a standalone basis in the period under review declined to ₹1,434.3 crore from ₹4,469.8 crore in the year-ago period, TVS Motor Company said in a statement.

“This quarter is not a representative quarter due to COVID-19 related shutdown for a major part of the quarter. Both production and sales were severely impacted during the quarter and therefore reflects what was an unprecedented situation,” it added.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on July 30, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.