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TVS Scooty Pep, Apache New Versions Soon
TVS motors witnessed a double growth rate during the Q3 by posting a sales profit of Rs55.75 crore after taxation against Rs23.54 crore during the same period of the previous year. The sales revenue for the same period of 2010 stood at Rs1647 crore making a rise by 51.23% which was Rs1089 crore during the corresponding period of 2009. The company"s CEO said that all the products from the company prove their worth raising hopes to carry over the current growth rate for the remaining quarters of this fiscal. He said the change in the growth is a good sign for further prospects as the products are spread across in combined markets. He hinted that there might be efforts to reduce the cost on one side and increase on marginal price on other side.
TVS motors was forced to revise its price every quarter in proportion to the commodity prices, said the company"s VP for Finance. He said the price may come down in the Q2 of 2011-12. As the sale volume increased and profit share too rose, the company has announced the dividend for the FY 2010-11 where by the face value stood at 0.50 paise for every Re1. This will convert the net dividend to Rs27.70 crore on 47.5 crore equity shares. This value comprises the dividend distribution tax too, he explained.
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