TVS Srichakra Q1 net profit up 147%

Company registered 147% jump in net profit from Rs 6.99 crore clocked during the April-June period of 2013-14 fiscal

Two and three-wheeler tyre maker TVS Srichakra Ltd has more than doubled its net profit to Rs 17.26 crore in the first quarter ending June 30, 2014-15.

The Tamil Nadu-based company registered 146.9% jump in net profit from Rs 6.99 crore clocked during the April-June period of 2013-14 fiscal.

Total income for the April-June quarter this fiscal grew to Rs 451 crore, from Rs 382.43 crore in the year-ago period.

For the financial year ending March 31, 2014, net profit was Rs 47.45 crore.

Total income for the financial year ending March 31, 2014 stood at Rs 1,670.99 crore, the statement said.