Shares of Popular Vehicles and Services Ltd fell by nearly 2% after the company released its Q2 FY25 business update on October 16. The company reported a 7% decline in total revenue from operations compared to the same period last year.
The Passenger Vehicle (PV) segment, excluding luxury cars, experienced a 6% year-on-year decline. However, the luxury car segment showed strong growth, rising by 20% year-on-year. Other segments, including electric vehicles and spare parts distribution, saw a 4% increase in revenue. In contrast, the Commercial Vehicle (CV) segment fell by 15%.
Despite the overall dip in revenue, the company highlighted a positive outlook as sales volume and revenue improved with the start of the festive season.
As of 9:26 am, the shares were trading 1.98% lower at ₹608.00 on the NSE
