TVS Motor posts 2-fold rise in profit

Jul 22, 2010 |

Correspondent

TVS Motor Company on Wednesday reported an over two-fold jump in net profit at Rs 40.38 crore for the quarter ended June 30, 2010, and announced to issue bonus shares to its shareholders. The company had recorded a net profit of Rs 18.12 crore in the corresponding period of last fiscal, TVS Motor Company said in a statement. The total income during the first quarter increased by 40.89 per cent to Rs 1,392.96 crore from Rs 988.70 crore.
“The board has recommended the issue of bonus equity shares to the shareholders in the ratio of 1:1 by capitalising equivalent to the credit of the general reserves of the company for approval of the shareholders though postal ballot,” the statement said. The board has also declared a second interim dividend of Re 0.50, for 2009. Total two-wheeler sales in last quarter grew by 31.43 per cent at 4.6 lakh units compared to 3.5 lakh units in the same period of the previous year.

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