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TVS Motor's shares down over 3% as March quarter profit slumps 43%

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MUMBAI: Shares of TVS Motor Company fell 3.1% on Friday after the company reported a 43.3% decline in its consolidated net profit to ₹81.85 crore for the quarter ended March.

At 0152pm, the stock traded 0.7% lower at ₹330.75, while the benchmark Sensex was down 0.5% at 32033.47. The two-wheeler major's total income declined nearly 17% from the year-ago quarter to ₹4,128.67 crore.

It reported profit before tax of ₹114.83 crore compared with ₹217.19 crore during Q4FY19. In a regulatory filing, the company said it has successfully transitioned to BS-VI emission norms and almost 85% it despatched during the quarter were BS VI products.

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