TVS Motor to launch diesel-powered three-wheeler

Chennai, April 30 (IANS) Two- and three-wheeler maker TVS Motor Company Ltd Tuesday hoped for better financial performance this fiscal with the launch of a diesel-powered three-wheeler, a new motorcycle, a new scooter and product upgrades.

In a statement, the company said it would introduce the new vehicles during the current fiscal and also upgrades across its product portfolio.

Last fiscal, the company’s net sales on a standalone basis stood at Rs.6,965 crore, down from Rs.6,993 crore earned the previous fiscal.

TVS Motor earned a net profit of Rs.116 crore last fiscal down from Rs.249 crore earned during 2011-12.

The company’s board has declared a second interim dividend of Re.0.60 per share on the share capital of Rs.47.51 crore for the year 2012-13.

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