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TVS Motor Company Share Rises 5% After Net Loss Narrows to Rs 15 Crore in Q1

TVS Motor Company Share Rises 5% After Net Loss Narrows to Rs 15 Crore in Q1

TVS Motor Company’s share rose 5% in early trade after the auto major narrowed its loss for the quarter ended June.

Consolidated net loss in Q1 stood at Rs 15 crore against net loss of Rs 183 crore in the corresponding quarter of the previous fiscal.

The large-cap stock has gained after 3 days of consecutive fall. The auto stock touched an intraday high of Rs 589.6, rising 5% against the previous close of Rs 561.50 on BSE.

The share has gained 43.79% in one year and has risen 19% since the beginning of this year.

TVS Motor share trades higher than 5 days and 200-day moving averages but lower than 20 days, 50 day, and 100-day moving averages.

Total 0.89 lakh shares changed hands amounting to a turnover of Rs 5.23 crore on BSE.

The market cap of the firm rose to Rs 27,222 crore on BSE.

Total income rose to Rs 4,692 crore in the first quarter against Rs 1,946.35 in the same period of the financial year 2019-20.

On a standalone basis, the company posted a net profit of Rs 53 crore in Q1 against a net loss of Rs 139 crore in the April-June period of last fiscal.

Overall two-wheeler and three-wheeler sales including exports stood at 6.58 lakh units in Q1 compared with 2.67 lakh units in the quarter ended June 2020.

Motorcycle sales climbed to 4.05 lakh units against 1.19 lakh units in the quarter ended June 2020. Scooter sales stood at 1.4 lakh units in Q1 against 0.82 lakh units in Q1 of FY20.

The company said it recorded its highest-ever two-wheeler exports in this quarter at 2.9 lakh units. It had shipped 70,000 units in the June quarter of the financial year 2019-20.

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