TVS Enjoys Decent Growth of 7.28 Percent in Feb 2016
Published On Mar 23, 2016
TVS Motor disclosed its monthly sales report recently. The company saw a 7.28 percent hike in total sales for February on a year-on-year basis, coming to a reasonable 2,19,467 units. In the same period last year, the brand had sold 2,04,565 units.
On Saturday, the TVS placed its second interim dividend value at Rs 1.50 per share (150 percent) for the financial year 2015-16. The brand said in a regulatory filing that it “has declared second interim dividend at the rate of Rs 1.50 per share (150 percent) on 47,50,87,114 equity shares, absorbing Rs 85.07 crore, including dividend distribution tax.” The company announced that the interim dividend would be paid on or after March 23, 2016.
The firm saw decent all round sales for the month of February. Its total two-wheeler sales in the month rose by a solid 7.99 percent, touching 2,11,148 units, while the figure for the last year's period came to 1,95,509. Motorcycle sales grew by 3.77 percent, coming to 77,093 units in February, against 74,292 units in the same month a year ago. The brand witnessed splendid performance in particular in the Scooter area, with models such as the Wego and the Streak garnering a decent market share. Scooter sales soared by nearly 18.21 percent, reaching 67,089 units against 56,750 in the same period a year ago. The company, however, lost ground in the three-wheeler front, where sales dropped by 8.13 percent, standing at 8,319 units in February 2016 against 9,056 units in the year-ago month.
The firm also suffered on its exports area. Vehicles sent out of the country in February 2016 came to 34,804 units against 38,725 the last year, reflecting a decline of 10.12 percent. The company had disclosed all of these figures in a BSE filing.
