Shares of TVS Motor Company were upbeat on Monday as the company announced an interim dividend for the year ending March 2024.

What Happened: The auto giant’s board, in a meeting held on Monday, declared an interim dividend of ₹8 per share, totalling ₹380 crore.

The record date for the interim dividend has been fixed as March 19, 2024. The dividend will be paid to shareholders whose names appear in the Register of Members and/or Depositories as of the close of working hours on March 19, 2024. The company has said that the dividend will be paid out within 30 days of the announcement.

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The automaker reported a 59% increase in its consolidated net profit to ₹479 crore for the quarter ended December 31, 2023. The company’s revenue from operations rose to ₹10,114 crore in the December quarter, up from ₹8,066 crore in the year-ago period.

Price Action: TVS share price was up 0.42% to trade at ₹2,269.15 in the late hours of trading on Monday.

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