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TVS Motor share price rises over 6% despite fall in Q3 net profit

TVS Motor share price has lost 7.4% in last one year and fallen 1.58% since the beginning of this year

twitter-logo BusinessToday.In        Last Updated: February 5, 2020  | 14:12 IST
TVS Motor share price rises over 6% despite fall in Q3 net profit
Share price of TVS Motor gained up to 6.25% to Rs 482.95 compared to the previous close of Rs 454.55 on BSE

TVS Motor share price rose in trade today despite the auto firm reporting a 20.7 per cent fall in consolidated net profit for the third quarter ended December 31 hit by lower sales during the period. Share price of TVS Motor gained up to 6.25% to Rs 482.95 compared to the previous close of Rs 454.55 on BSE.

The large cap stock has lost 7.4% in last one year and fallen 1.58% since the beginning of this year.  The firm reported a profit of Rs 156.84 crore in the third quarter against net profit of Rs 197.79 crore in the December quarter of 2018-19.

Total income fell to Rs 4,779.32 crore for the third quarter as compared with Rs 5,123.50 crore in the year-ago period, the firm said.

Overall two-wheeler sales during the third quarter stood at 7.73 lakh units compared with 9.5 lakh units for the quarter ended December 2018.

Also read: TVS iQube Electric Scooter; here's all you need to know

Motorcycle sales for the quarter under review stood at 3.25 lakh units as compared with 3.78 lakh units in the year-ago quarter. Similarly, scooter sales stood 2.8 lakh units for the third quarter as compared with 3.54 lakh units in the year-ago period.

On the other hand, total three-wheelers sales grew 22.1 per cent to 48,391 units in the said quarter as against 39,629 units in October-December period of 2018-19.

Total exports grew 22.6 per cent to 2.17 lakh units during the third quarter as against 1.77 lakh units in the year-ago period.

BY Aseem Thapliyal

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