TVS Supply Chain Shares Zoom 7% After Announcing 5-Year Contract With Daimler Truck

Shares of TVS Supply Chain Solutions rose 7% on Wednesday morning after the company announced a 5-year contract with Daimler Truck South East Asia Pte.

What Happened: The company announced a 5-year contract with Daimler Truck AG's company to provide integrated supply chain solutions service in Singapore. 

Through the contract, the company will service Daimler Truck South East Asia's distributor networks, dealers and workshops in 16 countries in the Asia Pacific region. TVS will also manage 8,000 stock-keeping units and 65,000 order lines for the company. 

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In its March quarter, TVS Supply Chain reported a net profit of ₹5.38 crore compared to a loss of ₹9.37 crore in the previous year. Its revenue from operations gained 4.5% to ₹2426.31 crore. 

The integrated supply chain solutions revenue grew 9.9% YoY to ₹1,380 crore while network solutions revenue fell 1.8% from the previous year to ₹1,047 crore. 

Price Action: Shares of TVS Supply Chain Solutions were up 7.31% to ₹181.68 on Wednesday's trading session. 

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