TVS Motor Company fell 2.10% to Rs 411.15 after total sales fell 25.48% to to 3.15 lakh units in September 2019 over September 2018.
Total two-wheeler sales tumbled 26.72% to 3 lakh units while total three wheeler sales jumped 13% to 13,282 units in September 2019 as against 2018.
Total exports grew 17% to 61,192 units in September 2019 over September 2018.
The company added that planned rationalisation of BS IV stocks has reflected in the sales growth difference between September 2018 and September 2019.
Sequentially, the company's total sales grew 8.76% to 3.15 lakh units in September 2019 over August 2019. The announcement was made after market hours on Tuesday, 1 October 2019.
Shares of TVS Motor Company fell 2.58% in two trading sessions to its current market price of Rs 411.15, from a recent closing high of Rs 422.05 on 30 September 2019.
More From This Section
Meanwhile, the S&P BSE Sensex was down 118 points or 0.31% to 38,187.56.
On the BSE, 31,535 shares were traded in the counter so far compared with average daily volumes of 1.66 lakh shares in the past two weeks. The stock hit an intraday high of Rs 414.40 and an intraday low of Rs 402 so far during the day.
The stock hit a 52-week high of Rs 594 on 13 December 2018. The stock hit a 52-week low of Rs 340.30 on 31 July 2019.
TVS Motor Company's consolidated net profit fell 5.6% to Rs 146.40 crore on 8.7% increase in net sales to Rs 5,018.34 crore in Q1 June 2019 compared with Q1 June 2018.
TVS Motor Company is engaged in the manufacturing of motorcycles, scooters, mopeds, three wheelers, parts and accessories.
Powered by Capital Market - Live News