TVS Motor Company Declares 800% Interim Dividend, Reports Strong Q3 Results

15 Mar 2024 , 10:33 AM

TVS Motor Company announces a hefty 800% interim dividend for the financial year ending March 31, 2024. The board of the two-wheeler manufacturer approves an interim dividend of ₹8 per share on 47,50,87,114 equity shares, totaling ₹380 Crore.

Shareholders eligible for the dividend are those whose names appear in the Register of Members or Depositories by March 19, 2024. The dividend payment will be made within 30 days from the declaration date.

In Q3, TVS Motor Company records a 59% surge in consolidated net profit to ₹479 Crore, attributed to strong sales performance. Revenue from operations climbs to ₹10,114 Crore in the December quarter compared to ₹8,066 Crore in the same period last year.

During the festive period, typically commencing in September, there was a delay until October-November in 2023, resulting in a notable 25% increase in TVS’ sales to 1.1 million units. The manufacturer of Apache bikes saw a significant surge in profit, rising by 68% from the previous year to 5.93 billion rupees ($71.4 Million) in the three months ending on December 31. This exceeded analysts’ average estimate of 5.37 Billion Rupees, according to data from LSEG.

“The interim dividend declared will be disbursed to shareholders who hold shares in both physical and electronic forms, and whose names are listed in the Register of Members and/or Depositories, respectively, as of the close of business on March 19, 2024. This date has been designated by the Company as the Record Date for this purpose,” the company stated in its regulatory filing.

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