TVS Motor to demerge consumer finance arm after record quarter

TVS Motor Company plans to demerge its consumer finance and related businesses into a separate holding company so it can focus on mobility. Existing shareholders will get an equal number of shares in the new entity. The two- and three-wheeler maker posted record September-quarter revenue of Rs 17,103 crore, up 44%, while profit after tax rose 52% to Rs 1,377 crore.