TVS Tyres Q2 net nearly doubles to Rs 48.66 cr

TVS Tyres, manufacturers of two and three wheeler tyres and marketed by TVS Srichakra, has nearly doubled its net profit to Rs 48.66 crore for the September quarter.
The Tamil Nadu-based company had registered a net profit at Rs 26.04 crore in the corresponding period of the previous fiscal, TVS Srichakra said in a BSE filing.
Total income from operations for the second quarter surged to Rs 522.35 crore from Rs 490.64 crore during the year-ago period.
"We continue to turn out a good performance with growing top line retaining number one position with OEMs as largest supplier to vehicle manufacturers and consistent increase in our aftermarket volumes", TVS Srichakra Director P Vijayaraghavan said.

"Reduction in material cost with judicious inventory management, finance cost coming down through better working capital management and operational cost also being brought down through efficiency improvement", he added.