TVS Motors posts Rs63 cr FY09 net loss, declares 70% dividend

Mumbai: Two-wheeler maker TVS Motor Company on Friday reported a consolidated net loss of Rs63.20 crore for the fiscal year ended 31 March 2009

In the previous fiscal year, the automaker had reported a net loss of Rs28.25 crore.

The total income rose by 14.59% to Rs3,813.17 crore in FY09, from Rs3,327.77 crore in the previous fiscal, the firm said in a filing to the Bombay Stock Exchange.

The directors have declared an interim dividend of 70% at the rate of Rs0.70 a share for the fiscal year ended 31 March 2009.

However, on a standalone basis, the company narrowed marginally its net loss to Rs31.08 crore for the fiscal year 2009, from Rs31.77 crore in FY08.

Total income rose by 14.26% to Rs3,736.67 crore during FY09, from Rs3,270.21 crore in the year-ago period.

Shares of TVS Motors closed at Rs44.85 on BSE, up 2.63% over previous close.