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    TVS Motor shares decline nearly 5% after Q1 earnings

    Synopsis

    Shares of TVS Motor Company on Thursday dropped nearly 5 per cent after the company reported a standalone net loss of Rs 139.1 crore.

    tvs-motors
    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 dropped nearly 5 per cent after the company reported a standalone net loss of Rs 139.1 crore for the first quarter ended June 30. It declined 4 per cent to Rs 385.70 on the BSE.

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

    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. SUM ANS ANS



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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