TVS Motor posts Rs 558 cr net profit in FY17

Chennai, April 27 (IANS) Two- and three-wheeler maker TVS Motor Company closed FY 2016-17 with a total revenue of Rs 13,363.43 crore and net profit of Rs 558.08 crore, the company said.

In a statement issued here, TVS Motor said it earned a revenue of Rs 13,363.43 crore last fiscal, up from Rs 12,194.77 crore posted during the previous year.

The company registered a net profit of Rs 558.08 crore last fiscal as against Rs 489.28 crore logged during FY 2015-16.

Last fiscal, the company sold 28.58 lakh two-wheelers and 69,000 three-wheelers.

The board of directors of the company has declared two interim dividends of Rs 1.25 (per share) each at their meetings held on October 27, 2016, and on March 6, 2017, for the year 2016-17.

The total dividend paid for the year ended March 31, 2017, aggregated to Rs 2.50 per share. The board does not recommend any further dividend for the year under consideration, the statement said.