TVS Motor dips 6% on single-digit sales growth in December

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Shares of TVS Motor Company dipped 6 per cent to Rs 531 on the BSE after the two and three- wheeler company reported a single- digit 6% year-on-year growth in sales in December 2018. The growth was lowest since October 2017.

The company registered 4 per cent growth in two-wheeler sales during December 2018 at 258,709 units as compared with 247,591 units, a year ago. Domestic two-wheeler sales registered a growth of 1 per cent from 207,739 units in December 2017 to 209,906 units in December 2018.

During the third quarter of the current financial year, two-wheeler sales grew by 19 per cent, increasing from 7.99 lakh units in the third quarter of the previous year to 9.50 lakh units in the third quarter of the current year.

At 02:48 pm, TVS Motor Company was trading at Rs 533, down 5.7% on the BSE, as compared 1% decline in the S&P BSE Sensex. The trading volumes on the counter more than doubled to 3.34 million equity shares changed hands on the BSE and NSE so far.