TVS Motor Registers 45.65% Increase in Net Profit

TVS-MotorAccording to reports, TVS Motor Company experienced an increase of 45.65% in its net profit at Rs 58.80 crore for the 1st quarter, which ended on the 30th of June.

Also, the company is said to have posted a net profit of Rs 40.37 crore in the corresponding period the previous year, and the total income in the first quarter surged by 25.35% to Rs 1,746.03 crore from Rs 1,392.96 crore then.

However, the board of the company suggested an 'interim dividend of 60%, which is Rs 0.60 per share, absorbing Rs 32.77 crore for 2010-11'. Hence , the total 'two-wheeler' sales of the company went up by 16.3% in the first quarter of the recent fiscal, to 5.35 lakh units, when compared to 4.6 lakh units in the same period last year.

The Sale of motorcycles increased by 10.3% to 2.24 lakh units for the quarter which ended on the 30th of June 2011. The scooters sales rose by 25.3% to 1.19 lakh units for the quarter ended on the 30th of June 2011, from 0.95 lakh units, in the corresponding quarter of the last year.

Moreover, TVS Motor Company Executive Vice President, S G Murali stated: "The results were very good as there was growth across all segments, the two-wheeler sales grew by 16% during the quarter and there is a value growth of 25%".