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TVS Srichakra rallies on nearly three-fold jump in Q1 profit

The stock rallied 8% to Rs 2,926 after the company posted a net profit at Rs 48.97 crore in June quarter against Rs 17 crore in a year ago quarter.

SI Reporter Mumbai
Last Updated : Aug 13 2015 | 11:17 AM IST
Shares of TVS Srichakra has rallied 8% to Rs 2,926 on the NSE after the company reported nearly three-fold year on year (Y-o-Y) jump in net profit at Rs 48.97 crore for the quarter ended June 2015 (Q1), on account of higher sales and lower interest cost. The tyre maker had recorded a profit of Rs 17.26 crore in the year ago quarter.

Net sales of the company increased 11.6% at Rs 499 crore in June quarter against Rs 447 crore in the corresponding quarter of previous year. Total expenditure grew 3.3% at Rs 431 crore on Y-o-Y basis.

Earnings before interest, tax, depreciation and amortisation (EBITDA) margin improved to 16.5% from 8.88%.

The stock opened at Rs 2,789 and touched a high of Rs 2,949 on the NSE. A combined 22,071 shares changed hands on the counter on the NSE and BSE till 11:01 AM.
 

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First Published: Aug 13 2015 | 11:06 AM IST

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