TVS Motor’s net profit for the second quarter of the current year has nearly doubled as compared with the corresponding quarter previously.
The board has recommended an interim dividend of 65 paise (65 per cent) a share of Re 1.
Marked growth in exports and three-wheeler sales and stable two-wheeler sales have contributed to the performance. Revenue grew by 16 per cent during the quarter ended September 30, 2013, compared with the corresponding quarter previously.
The total two-wheeler sales went up by 2 per cent to 4.79 lakh units (4.69 lakh); motorcycles 18 per cent to 1.97 lakh units (1.67 lakh); and scooter sales dropped slightly to 1.16 lakh units (1.19 lakh units).
Exports of two-wheelers grew 27 per cent to 61,000 units. Three-wheeler sales jumped 85 per cent to 23,000 units (12,000).
balaji.ar@thehindu.co.in