TVS Motor profit up 20%, co declares interim dividend

TVS Motor has reported a net profit of Rs 213.16 crore during the quarter ended September 30, 2017 as compared to Rs 177.39 crore, an increase of around 20.2 per cent.

Revenue excluding excise duty, GST grew to Rs 4,097.99 crore in the quarter ended September 2017 compared to Rs 3,465.69 crore in the quarter ended September 2016. 

The two-wheeler major's margin was 8.7 per cent, which was higher than the market estimate due to improvement in realisation thanks to a better product mix.

The Board at its meeting held on Wednesday, declared an interim dividend of Rs 2 per