TVS Srichakra reports Q3 net loss of ₹6 crore

TVS Srichakra Ltd. reported consolidated net loss of ₹6 crore for the third quarter ended December 31, 2024, compared with net profit of ₹24 crore in the year-ago period. Consolidated revenue from operations during the period grew 12% to ₹803 crore from ₹719 crore a year ago.

On a standalone basis, the company reported net loss of ₹3 crore as compared with net profit of ₹22 crore a year ago.

Standalone revenue from operations grew 10% to ₹747 crore from ₹677 crore a year ago.

During the current quarter, the company has accounted for an amount of ₹101.23 crore as the fair value gain (net of tax) on equity instrument in other comprehensive income on completion of Composite Scheme of Arrangement (Demerger) and Amalgamation (Scheme) involving TVS Automobile Solutions Private Ltd. (Transferee Company), TASL Automobile Solutions Private Ltd. (Resulting Company) and ki Mobility Solutions Private Ltd. (Transferor Company) and their respective shareholders, basis valuation of TVS Automobile Solutions Private Ltd. (post-merger of ki Mobility Solutions Private Ltd) considered in the Scheme and fair valuation of equity shares allotted in TASL Automobile Solutions Private Ltd., the company said in a filing.