New Delhi, Jul 30 (PTI) Shares of TVS Motor Company on Thursday closed on a flat note after the company reported a standalone net loss of Rs 139.1 crore for the first quarter ended June 30.

The stock, which declined 4 per cent to Rs 385.70 during the day on the BSE, later closed at Rs 401.95, marginally down 0.05 per cent.

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On the NSE, it closed 0.19 per cent lower at Rs 402.15.

TVS Motor Company on Wednesday reported a standalone net loss of Rs 139.1 crore for the first quarter ended June 30 with COVID-19 severely impacting sales during the period.

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The company had posted a profit after tax of Rs 142.3 crore for April-June, 2019-20.

The revenue on a standalone basis in the period under review declined to Rs 1,434.3 crore from Rs 4,469.8 crore in the year-ago period, TVS Motor Company said in a statement.

"This quarter is not a representative quarter due to COVID-19 related shutdown for major part of the quarter. Both production and sales were severely impacted during the quarter and therefore reflects what was an unprecedented situation," it added.

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