The two-wheeler company will purchase 100% stake of Intellicar Telematics for a total cash consideration of Rs 15 crore.
Intellicar Telematics provides advanced fleet management solutions through an integrated platform powered by IoT technologies coupled with strong analytics and data management capabilities. It will help accelerate the ongoing digital initiatives at TVS Motor Company that are targeted at delivering enhanced customer experience.Intellicar had reported revenue of Rs 16.10 crore in FY20, up from Rs 9.66 crore in FY18. The acquisition process is expected to be completed by 31 December 2020.
TVS Motor Company's consolidated net profit skid 29.4% to Rs 181.41 crore on 5.9% rise in net sales to Rs 5,254.36 crore in Q2 September 2020 over Q2 September 2019.
Shares of TVS Motor Company slipped 0.29% to Rs 497.90 on BSE. TVS Motor Company is a two and three-wheeler manufacturer and is the flagship company of TVS group.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app