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TVS Motor's Indonesian subsidiary sells surplus land at profit of $16.9 million

29 Jun 2013 Evaluate

TVS Motor's Indonesian subsidiary, PT TVS Motor Company Indonesia has sold one of its surplus land for a $23.4 million. According to the company's Annual Report for 2012-13, the land which was bought in 2008 was sold at a profit of $16.9 million. Consequently, profit before tax for the year was Rs 7.6 crore compared to a loss of Rs 87.72 crore in 2011-12.

Further, the company is planning to launch a new kubek and a new motorcycle during 2013-14 for the Indonesian market and is looking at expanding its dealership network from 100 dealers to 150 dealers by the end of March 2014.

TVS Motor Company Share Price

4401.50 3.50 (0.08%)
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