TVS Motor share price managed to close higher today after the Chennai-based automaker reported a 43.3 per cent fall in its consolidated net profit for the fourth quarter ended March, 2020. Net profit fell to Rs 81.85 crore in Q4 against net profit of Rs 144.37 crore in the January-March period of 2018-19 fiscal.
Share price of TVS Motor fell up to 3.08% to Rs 322.7 against previous close of Rs 332.95 on BSE. The stock has gained 7.36% in the last 4 days. The stock touched an intraday high of Rs 343.8 , up 3.26%. The stock closed 0.93% higher at Rs 336.05 on BSE. The share stands higher than 5-day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages.
Total income declined to Rs 4,128.67 crore for the fourth quarter compared with Rs 4,967.03 crore in the same period of 2018-19 fiscal.
During the fourth quarter, the company’s overall two-wheeler and three-wheeler sales, including exports, stood at 6.33 lakh units as compared with 9.07 lakh units registered in the quarter ended March 2019.
For 2019-20 fiscal, the company reported a net profit of Rs 646.80 crore against Rs 725.40 crore profit in 2018-19. Total income during the last fiscal stood at Rs 18,901.14 crore as compared with Rs 20,185.43 crore in 2018-19.
The company reported total sales of 32.63 lakh units in 2019-20 as against 39.14 lakh units in 2018-19.
Source: India Today