TVS Motor announces interim dividend for its investors

ANI
25 Jan 2023, 04:56 GMT+10

New Delhi [India], January 24 (ANI): TVS Motor Company on Tuesday declared an interim dividend of Rs 5 per share for its investors for the current financial year ending March 2023.

A dividend is a reward that companies often provide to their shareholders, though not mandatory, from a portion of their earnings.

This dividend will absorb a sum of Rs 238 crore for the 2022-23 financial year ending March, the automaker said in a regulatory filing.

The declared interim dividend will be paid on or after February 9, 2023, to those shareholders, who hold shares in physical form or in electronic form.

The record date is February 2, 2023. The record date is set for the purpose of ascertaining the eligibility of shareholders for payment of the dividend.

Meanwhile, TVS Motor Company's net profits during the October-December quarter were at Rs 352.75 crore, an increase of 22.5 per cent on a yearly basis as compared to Rs 288.31 crore same quarter of last year.

TVS Motor Company's operating revenue grew by 15 per cent at Rs 6,545 crore for the quarter ended December 2022 as against Rs 5,706 crore reported in the same quarter of 2021.

Further, electric vehicle sales during the October-December 2022 quarter were at 0.29 lakh units as against just 0.02 lakh units during the same quarter of 2021.

In Q3 2022-23, the Company registered total two-wheeler sales of 8.36 lakh units as against 8.35 lakh units in the quarter that ended December 2021. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Professional Autos.

More Information

26 ℃

Mostly Cloudy in Seletar

Business

Section

SpaceX Starship launch in March called possibility

CAPE CANAVERAL, Florida: In a tweet this weekend, Elon Musk said that SpaceX may attempt a Starship rocket system launch ...

Officials hopeful as UK new car sales rise 14 percent in January

LONDON, England: The Society of Motor Manufacturers and Traders has reported that new car registrations in the UK rose for ...

Big jump in sales for Foxconn as China ends Covid restrictions

TAIPEI, Taiwan: After the end of COVID-19 disruptions in China, Taiwan's Foxconn, the world's largest contract electronics maker and major ...

U.S. stocks get boost from Fed chair, Nasdaq surges 226 points

NEW YORK, New York - Stocks ended sharply higher on Tuesday following mixed comments by Federal Reserve Chairman Jerome Powell.Powell ...

Media reports US to sue Amazon claiming antitrust violations

NEW YORK CITY, New York: The Wall Street Journal reported this week that the US Federal Trade Commission is preparing ...

Blaming cost of manufacturing, Nestle to raise prices for second year

VEVEY, Switzerland: In an interview with Frankfurter Allgemeine Zeitung this week, Nestle's Chief Executive Mark Schneider said the world's largest ...

Engineering

Section