TVS Motor Q2 net dips marginally to Rs 211.3 cr

TVS Motor Company Tuesday reported a marginal decline in its profit after tax (PAT) at Rs 211.3 crore for the second quarter ended on September 30, 2018.

The Chennai-based company had posted a net profit of Rs 213.2 crore for the same period of previous fiscal.

Total revenue, however, grew to Rs 4,994 crore for the second quarter from Rs 4,098 crore in the July-September quarter of last financial year, TVS Motor Company said in a statement.

During the period under review, the company's overall two-wheeler sales including exports grew by 13.6 per cent to 10.49 lakh units from 9.23 Lakh units in the quarter ended September 2017.

Motorcycle sales grew by 14.9 per cent to 4.20 lakh units during the quarter as compared with 3.65 lakh units registered in the same period of previous fiscal.

The company said its scooter sales grew by 18.2 per cent to 3.88 lakh units in second quarter from 3.28 lakh units in the quarter ended September 2017.

Besides, the company's total exports during the period under review grew by 35.2 per cent 1.99 lakh units from 1.48 lakh units in the same period of previous financial year.

The company's board declared an interim dividend for the financial year ending March 31, 2019 at the rate of Rs 2.10 per share (210 per cent) on 47,50,87,114 equity shares of Re 1 each , absorbing a sum of Rs 120.28 crore.

The interim dividend declared will be paid on or after November 3, 2018, it said.

Shares of the company today ended 3.75 per cent up at Rs 536.05 on BSE.