TVS Motor announces interim dividend for its investors

NEW DELHI: 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.