TVS Logs 28 Percent Net Profit, to Launch New Vehicles

Chennai: Closing last fiscal with 28 percent growth in its after-tax profit, two- and three-wheeler maker TVS Motor Company announced that it would launch an executive segment motorcycle this August. The company will also launch a new scooter and a motorcycle model during the last quarter of the current fiscal while upgrading its existing models and log higher growth rate compared to that of the industry. In a statement, TVS Motor said it ended fiscal 2011-12 with a total revenue of 7,126 crore and an after-tax profit of 249.07 crore up from 6,288 crore and 194.58 crore, respectively, posted during 2010-11. Last year the company sold just over 2.1 million units from around two million units sold the previous year. TVS Motor exports grew by 23 percent last fiscal to around 296,000 units. The company's board of directors declared a second interim dividend of 70 paise per share in addition to the first interim dividend of 60 paise per share taking the total dividend for the year under review to 1.30 per share.