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.