 "TVS Srichakra rallies on nearly three-fold jump in Q1 profit")
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.
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.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%