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TVS Motor net doubles

By Our Corporate Reporter

TVS Motor Company has reported higher turnover and profits in the 12 months ended March 31, 2003. Net sales have spurted to Rs. 2,725.55 crores from Rs. 1,944.35 crores. The net profit has spurted to Rs. 127.65 crores from Rs. 53.91 crores, after providing interest (net of income) of Rs. 3.13 crores (Rs. 11.84 crores), depreciation of Rs. 80.06 crores (Rs. 49.22 crores) and taxation of Rs. 73.44 crores (Rs. 28.61 crores). Earnings per share have gone up to Rs. 55.26 from Rs. 23.34 per share.

In the quarter ended March 31, 2003, the company achieved a net profit of Rs. 37.54 crores against Rs. 23.19 crores. Net sales, including other income, were higher at Rs. 671.25 crores against Rs. 582.33 crores.

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