India's No 3 two-wheeler maker, TVS Motor Co has declared its first quarter financial results for the fiscal year 2010-11. It has informed that the net profit of the company has gone up by an impressive two-fold rise in the quarter under review.

The company has posted a net profit of Rs 403.78 million for the quarter that ended in 30th June, 2010. This net profit figure was Rs 181.2 million for the same quarter in the last fiscal. This has been informed by TVS Corporation in a filing at the Bombay Stock Exchange.

The total sales of the company have touched Rs 13.7 billion during the April-June period of the fiscal year 2010-11. It has increased from Rs 9.75 billion from the corresponding quarter in the preceding year. There has been a hike of 31.4% in the total sales of the two-wheelers of the company in this quarter against same period in last year.

Moreover, TVS Motor Co. has also informed that it will issue a bonus share to its shareholders as decided by the board.