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

Shares of TVS Supply Chain Solutions fell 6 per cent in morning trade on September 12 after the company’s consolidated net loss widened to Rs 65.3 crore in the first quarter of the current financial year .
The company posted a net loss of Rs 1.8 crore in the previous year and a loss of Rs 12.34 crore in the previous quarter ended March 2023.
At 10 am, shares of TVS Supply Chain Solutions were trading 6 per cent lower at Rs 230.50 on the BSE. The stock had touched a 52-week high of Rs 257.95 in the previous session.
She said in an after-market filing on September 11 that the company’s operating revenue for the quarter stood at Rs 2,342.4 crore, down 12.4 per cent from Rs 2,675.5 crore in the first quarter of the year. fiscal year 2023. Revenue from the company’s Integrated Supply Chain Solutions (ISCS) segment stood at Rs 1,318.9 crore, up 20.1 per cent year-on-year. ISCS segment revenue grew across all geographies (India, Europe, North America) sequentially and year-on-year.
“We are seeing a trend toward increased outsourcing of supply chain activities across all industries, leading to the expansion of existing commitments and the creation of new opportunities. This trend is a favorable driver for the growth of the ISCS segment where we have strong demand dynamics across all sectors. said Ravi Viswanathan, CEO, TVS SCS.
TVS Supply Chain Solutions had a lackluster debut on the stock exchange on August 23, with a 5% premium over its issue price of Rs 197. The logistics company’s Rs 880 crore public issue was subscribed 2.78 times between August 10 and 14, with bids for 6.99 crore shares against an IPO of 2.51 crore. crore’ action. Retail investors led the way, subscribing 7.61 times the allocated limit.
TVS Supply Chain Solutions began operations as part of the TVS Group under the name TVS Logistics before becoming a separate company in 2004.
TVS Supply Chain Solutions provides comprehensive solutions to Fortune 500 companies worldwide. The business is divided into two main components: integrated supply chain solutions and network solutions.