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TVS Motors declares second interim dividend of Rs. 1.40 per share for FY21

The second interim dividend declared will be paid on or after 9 April 2021, to those shareholders, who hold shares in physical form and / or in electronic form and whose names appear in the Register of Member (Hemant Mishra/Mint)Premium
The second interim dividend declared will be paid on or after 9 April 2021, to those shareholders, who hold shares in physical form and / or in electronic form and whose names appear in the Register of Member (Hemant Mishra/Mint)

  • The second interim dividend declared will be paid on or after 9 April 2021, to those shareholders, who hold shares in physical form and / or in electronic form and whose names appear in the Register of Member

At the meeting of the board of directors of the Company held today, the board declared a second interim dividend, for the financial year ending 31 March 2021, at the rate of Rs. 1.40 per share (140%) on 47,50,87,114 equity shares of Re.1/- each fully paid up, absorbing a sum of Rs. 66.51 crore

"The second interim dividend declared will be paid on or after 9 April 2021, to those shareholders, who hold shares in physical form and / or in electronic form and whose names appear in the Register of Members and / or Depositories respectively, as at the close of working hours on 2 April 2021, being the Record Date fixed by the company for this purpose," the company said in a regulatory filing.

The company's board had earlier declared an interim dividend of 2.10 per share (210 per cent) for the year 2020-21.

Meanwhile, TVS Motor Company reported an increase of 18 per cent in total sales in February at 2,97,747 units.

The company, which primarily makes two-wheelers and three-wheelers, had sold 2,53,261 units in February 2020, TVS Motor Company said in a statement.

Total two-wheeler sales during the month under review stood at 2,84,581units, as against 2,35,891 units in February 2020, up 21 per cent.

Domestic two-wheeler sales stood at 1,95,145 units last month, as compared to 1,69,684 units in February 2020, up 15 per cent, it added.

Total exports increased 23 per cent to 1,01,789 units last month, as compared to 82,877 units in February last year.

TVS Motor Company on Thursday reported a 84.7 per cent increase in consolidated net profit at 289.69 crore for the third quarter ended December, riding on the back of higher sales.

The company had posted a net profit of 156.84 crore in the October- December period of the previous fiscal.

Consolidated revenue from operations increased to 6,094.91 crore for the third quarter as against 4,765.99 crore in the same period of 2019-20, TVS Motor Company said in a statement.

On a standalone basis the company reported a net profit of 265.62 crore, its highest ever in a quarter.

The company had posted a net profit of 121.07 crore in the October-December period of the previous fiscal.

Revenues during the period under review rose 31 per cent to 5,404 crore, its highest ever in a quarter as compared with 4,126 crore in the third quarter of 2019-20.

The company's overall two-wheeler sales in the third quarter, including exports, grew by 23 per cent to 9.52 lakh units from 7.73 lakh units in the quarter ended December 2019.

Motorcycle sales grew 31 per cent to 4.26 lakh units in the quarter ended December 2020 from 3.25 lakh units registered in the quarter ended December 2019, TVS Motor Company said.

Similarly, scooter sales grew 11 per cent to 3.11 lakh units during the period under review as against 2.8 lakh units in the quarter ended December 2019.

The company said its total exports during the December quarter grew to 2.61 lakh units from 2.17 lakh units in the year-ago period, recording a growth of 20 per cent despite the scarcity in the availability of containers.

The demand in the export market continues to be robust, it added.

During the quarter, three-wheeler sales stood at 38,000 units as against 48,000 units in the quarter ended December 2019.



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