India Motor Parts & Accessories, a TVS Group company engaged in the distribution of automobile parts and accessories, has reported a 30 per cent increase in its profit after tax at ₹40.4 crore for the year ended March 31, 2019 when compared with ₹31.06 crore in the previous year.

Its revenue increased by 11 per cent to ₹511.55 crore for FY19 from ₹475.5 crore in FY18, after normalising FY18 turnover, which included ₹16.12 crore of incoming excise duty and taxes (pre-GST era), according to a statement.

On a consolidated basis, its net profit stood at ₹41 crore as against ₹31 crore. Its consolidated revenues grew 13.2 per cent for FY19 to ₹524.20 crore from ₹479 crore in FY18.

During FY19, the company’s net worth crossed the ₹1,000-crore mark with a share capital of ₹8.32 crore only.

The board has declared a total dividend of 180 per cent. This comprises an interim dividend of 100 per cent payable now and a final dividend of 80 per cent, subject to the approval of the shareholders.

In February this year, the company realised ₹101.99 crore by divesting 2.65 per cent stake held in Royal Sundaram General Insurance Company to Ageas Insurance International, Netherlands.

In FY19, the company had operations across 20 States and one Union Territory. It had a network of 68 branches and an employee strength of more than 750 people.