TVS Srichakra fell 1.25% to Rs 2359.90 after the company reported 36.5% fall in consolidated net profit to Rs 25.31 crore on a 24.5% rise in revenue from operations to Rs 687.51 crore in Q2 FY22 over Q2 FY21.
Total expenses during the quarter increased by 31% YoY to Rs 654.23 crore, due to higher raw material costs (up 44.5% YoY) and higher other expenses (up 97.1% YoY).
Profit before tax in Q2 FY22 stood at Rs 33.99 crore, down by 36.6% from Rs 53.62 crore in Q2 FY21.
TVS Srichakra, makers of TVS Eurogrip brand of tyres is one of India's leading manufacturers and exporters of two, three-wheeler tyres and off-highway tyres.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU