 Mumbai : Chennai-based TVS Motor Company today reported an over two-fold jump in net profit at Rs 40.38 crore for the quarter ended June 30, 2010, and announced to issue bonus shares to its shareholders.
The company had recorded a net profit of Rs 18.12 crore in the corresponding period of last fiscal, TVS Motor Company said in a statement. "The board has recommended the issue of bonus equity shares to the shareholders in the ratio of 1:1 by capitalising equivalent amount standing to the credit of the general reserves of the company for approval of the shareholders though postal ballot," the statement said.
Besides, the board also declared a second interim dividend of Re 0.50, which is 50 per cent per share, for 2009-10. "The total dividend including the second interim dividend for the year ended March 31, 2010, will aggregate Rs 1.20 per share (120 per cent). The board has not recommended any final dividend for the year 2009-10," it added.
Total two-wheeler sales in last quarter grew by 31.43 per cent at 4.6 lakh units compared to 3.5 lakh units in the corresponding period of the previous year, TVS said.
While motorcycles sales grew by 31.61 per cent to 2.04 lakh units in the reporting quarter, scooters sales jumped 41.18 per cent at 0.96 lakh units. The three-wheeler sales stood at 7,979 units, an over three-fold jump. In April-June period, two-wheeler exports soared 78.13 per cent to 0.57 lakh units.
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