TVS Motor shares close flat post Q1 earnings

TVS Motor Company on Wednesday reported a standalone net loss of Rs 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 Rs 142.3 crore for April-June, 2019-20.

Shares of TVS Motor Company on Thursday closed on a flat note after the company reported a standalone net loss of Rs 139.1 crore for the first quarter ended June 30. The stock, which declined 4 per cent to Rs 385.70 during the day on the BSE, later closed at Rs 401.95, marginally down 0.05 per cent.

On the NSE, it closed 0.19 per cent lower at Rs 402.15. TVS Motor Company on Wednesday reported a standalone net loss of Rs 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 Rs 142.3 crore for April-June, 2019-20. The revenue on a standalone basis in the period under review declined to Rs 1,434.3 crore from Rs 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 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..