09 Mar , 2022 By : Kanchan Joshi
TVS Motor Company on Wednesday announced that its board will meet next week on Friday, March 18, 2022 to consider and declare interim dividend for the year ending March 31, 2022. The record date for the purpose of interim dividend will be 28th March 2022, it added. Shares of TVS Motor surged over a per cent to Rs542 apiece on the BSE in Wednesday's early deals.
"A meeting of the board of directors of the company is being convened on Friday, the 18th March 2022 inter-alia to consider and declare interim dividend, if any, to the shareholders of the Company for the year ending 31st March 2022," the company announced in an exchange filing today.
The rate, quantum and date of payment of interim dividend, if declared, will be advised immediately after the board meeting, it added.
The two-wheeler manufacturer reported a 9% rise in its consolidated net profit at Rs288 crore during the three months ended December period as compared to Rs266 crore in the corresponding period of last year. The company's revenue grew by 6% at Rs5,706 crore in the third quarter, its highest ever as against Rs5,391 crores in the same quarter of last year.
TVS Motor also posted its highest ever EBITDA (earnings before interest, tax, depreciation and amortisation) of Rs568 crore in Q3 period as opposed Rs511 crore a year ago. Meanwhile, EBITDA margin stood at 10% during the reported quarter.
TVS Motor shares have declined more than 9% in a year's time whereas the auto stock is down about 14% in 2022 (year-to-date or YTD) so far.
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