TVS PAT up 123%,declares bonus

Driven by volume growth and new launches and complemented by strong contributions from the existing portfolio,the country’s third largest two-wheeler maker,TVS Motor Company,has reported a 40.9 per cent growth in revenue and an 123 per cent increase in profit after tax for the quarter ended June 30,2010. With the performance being encouraging,the board,which met on Wednesday,recommended issue of bonus equity shares to the shareholders in the ratio of 1:1 by capitalising equivalent amount standing to the credit of the general reserves of the company. Revenues grew to Rs 1,392.96 crore for the quarter ended June 30,2010,from Rs 988.70 crore in the year-ago period. The profit before tax grew 151.8 per cent at Rs 50.47 crore compared with Rs 20.04 crore in the comparable period of the previous fiscal.