TVS Supply Chain Solutions slumps 6% after Q1 loss widens to Rs 65 crore

The company had posted a net loss of Rs 1.8 crore in the year-ago period, and a loss of Rs 12.34 crore in the preceding quarter ended March 2023.

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Shares of TVS Supply Chain Solutions slumped 6 percent in morning trade on September 12 after the company’s consolidated net loss widened to Rs 65.3 crore during the first quarter of the current financial year.

The company had posted a net loss of Rs 1.8 crore in the year-ago period, and a loss of Rs 12.34 crore in the preceding quarter ended March 2023.

At 10 am, shares of TVS Supply Chain Solutions were trading 6 percent down at Rs 230.50 on the BSE. The shares had hit their 52-week high of Rs 257.95 in the previous session.

The company’s revenue from operations during the quarter came in at Rs 2,342.4 crore, down 12.4 percent from Rs 2,675.5 crore during the first quarter of FY23, it said in a post-market hours filing on September 11.

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The company’s Integrated Supply Chain Solutions (ISCS) segment revenue was Rs 1,318.9 crore, up 20.1 percent year-on-year. ISCS segment revenue grew in all geographies (India, Europe, North America) both sequentially and year-on-year.

“We are witnessing a trend of increasing outsourcing of supply chain activities across industries that are resulting in expansion of existing engagements and a strong pipeline of new opportunities. This trend is a tailwind for growth of the ISCS segment where we have strong demand drivers in all geographies that we are present,” said Ravi Viswanathan, managing director of TVS SCS.

TVS Supply Chain Solutions made a lacklustre debut on the bourses on August 23, at a 5 percent premium to its issue price of Rs 197.

The Rs 880-crore public issue of the logistics company was subscribed 2.78 times during August 10-14, with bids for 6.99 crore equity shares against an IPO size of 2.51 crore shares. Retail investors were at the forefront, subscribing to 7.61 times the allotted quota.

TVS Supply Chain Solutions began operations as a part of the TVS group under the name TVS Logistics before becoming a separate company in 2004.

TVS Supply Chain Solutions provides end-to-end solutions to Fortune 500 companies across the world. The business is divided into two main components: Integrated Supply Chain Solutions and Network Solutions.

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