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TVS Motor skids after dismal November sales

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TVS Motor Company was down 2.11% at Rs 466.95 after the company's total sales tumbled 16.68% y-o-y in November 2019.

The sales data was announced during market hours today, 2 December 2019.

TVS Motor Company sold 266,582 units in November 2019 as against 319,965 units in corresponding period last year. TVS Motor clarified that weak sales for the month of November 2019 was on the backdrop of adjustment of BS IV units to BS VI and shifting of Diwali season to an earlier month.

Domestic sales slumped 26.52% to 1,91,222 units while exports surged 27% to 74,060 units in November 2019 as against November 2018.

On month-on-month basis, total sales declined 17.56% to 2,66,582 units in November 2019 as against 3,23,368 units in October 2019.

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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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 02 2019. 14:03 IST