TVS Motors drops extends fall after weak Dec sales

TVS Motor Company announced during market hours Thursday, 2 January 2020, that its total sales tumbled 14.67% year-on-year to 2,31,571 units in December 2019.

Following the disclosure, shares of TVS Motor fell 2.11% to end at Rs 458.85 on Thursday.

The stock was currently down 1.36% at Rs 452.6, extending its losing streak for second session. The stock is down 0.67% in last one month compared with 3.24% rise in Nifty Auto index.

TVS Motor Company sold 231,571 units in December 2019 as against 271,395 units sold in December 2018. As planned, the company started producing and dispatching BS-VI vehicles of 2020 TVS Apache RTR series, TVS Jupiter Classic and TVS XL.

Domestic sales slumped 25.09% to 1,57,244 units in December 2019 from 2,09,906 units in December 2018. Total exports grew 22% to 73,512 units in December 2019 over the same period last year.

On month-on-month basis, total sales declined 17.56% to 2,31,571 units in December 2019 from 2,66,582 units in November 2019.

TVS Motor Company is engaged in the manufacturing of motorcycles, scooters, mopeds, three wheelers, parts and accessories.

On consolidated basis, the company's net profit rose 15.09% to Rs 256.88 crore on a 9.17% decline in total income to Rs 4,966.88 crore in Q2 September 2019 compared with Q2 September 2018.

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