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₹139 cr loss for Q1 as COVID-19 puts brake on sales

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TVS Motor Company on Wednesday reported a standalone net loss of ₹139.1 crore for the first quarter ended June 30, with COVID-19 severely impacting sales during the period.The company had posted a profit after tax of ₹142.3 crore for April-June, 2019-20.The revenue on a standalone basis in the period under review declined to ₹1,434.3 crore from ₹4,469.8 crore in the year-ago period, TVS Motor Company said in a statement.The company's overall two-wheeler sales, including exports, stood at 2.55 lakh units during the first quarter as against 8.84 lakh units reported in the year-ago period.Motorcycle sales stood at 1.19 lakh units in June quarter as against 4.17 lakh units in the same period a year ago, the company said.Similarly, scooter sales.

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