TVS Motor hits over two-year low on weak Q1 results

Shares of TVS Motor Company hit an over two-year low of Rs 361, down 5 per cent in Tuesday's early morning trade on the BSE after reporting a 3 per cent decline in net profit at Rs 142 crore for the first quarter of fiscal 2020 (Q1FY20), on muted volume, and higher depreciation, interest cost and tax rate.

The stock hit its lowest level since January 3, 2017.

The two-wheeler company reported a revenue growth of 7.2 per cent to Rs 4,470 crore in June 2019 quarter from Rs 4,171 core in the quarter ended June 2018. EBITDA