1:1 bonus issue by TVS Motor Company

April 29th, 2011 - 8:10 pm ICT by IANS  

Chennai April 29 (IANS) Two and three wheeler maker TVS Motor Company’s board Friday recommended bonus equity issue of 1:1.

The Rs.47.51 crore equity based company closed the year 2010-11 with a turnover of Rs.6,289.31 crore and a net profit of Rs.192.58 crore, up from Rs.4,430.14 crore and Rs.88 crore posted the previous year.

During the year ended March 2011, TVS Motor Co registered a growth of 32 percent in sales with overall two-wheeler sales rising from 15.19 lakh units in the previous financial year to 20.04 lakh units.

Its global business saw a significant increase. Sales grew 36 percent. It exported around 239,000 units in 2010-11, compared to around 165,000 units in 2009-10, a growth of 45 percent.

According to the company, two new two-wheeler models are expected to be launched in 2011-12 while it will make efforts to expand the market reach of its three-wheelers.

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