PBT grows 151.8% ; PAT grows 122.8%; Declares second interim dividend of 50% and recommends bonus shares in the ratio of 1:1
Volume growth, led by new launches and
complemented by strong contributions from the existing portfolio, has
enabled TVS Motor Company to record a revenue growth of 40.9 % in the
first quarter. The company's revenues grew to Rs. 1392.96 crore in the
current quarter ended June 2010 from Rs. 988.70 crore in the quarter
ended June 2009. Profit before tax during the quarter under review grew
151.8% at Rs. 50.47 crore compared to Rs. 20.04 crore recorded in the
comparable period of the previous year. Profit after tax in the current
quarter grew 122.8% at Rs. 40.38 crore from Rs. 18.12 crore in the
previous comparable quarter.
The board in the meeting held today declared a second interim dividend
of Re. 0.50 (50%) per share absorbing a sum of Rs. 13.41 crore including
dividend distribution tax for the year 2009-10. The total dividend
including the second interim dividend for the year ended 31 March 2010
will aggregate Rs. 1.20 per share (120%).
The board has also recommended the issue of bonus equity shares to the
shareholders in the ratio of 1:1 by capitalizing an equivalent amount
standing to the credit of the general reserves of the company for
approval of the shareholders through postal ballot.
Total two-wheeler sales of the company grew at 31.4 % in the first
quarter of the current fiscal at 4.6 lakh units compared with 3.5 lakh
units in the corresponding period of the previous year. Motorcycles
sales grew at 31.5% to 2.04 lakh units in the reporting quarter from
1.55 lakh units in the quarter ended June 2009. Scooters grew
substantially by 41.6 % registering sales of 0.96 lakh units in the
current quarter against 0.68 lakh units during the corresponding quarter
of the previous year. TVS Wego and TVS Jive are now available across
India and have received favourable response from the market; however the
full volume impact of these launches will be seen in Q2.
Two wheeler exports registered 78.1% growth with sales increasing to
0.57 lakh units in the current quarter from 0.32 lakh units in the
quarter ended June 2009.
Three wheeler sales during the quarter grew by more than 250% to 7979
units in the quarter ended June 2010 from 2223 units in the quarter
ended June 2009.