Tolins Tyres slides as CFO Ravi Sharma resigns

Tolins Tyres slipped 4.95% to Rs 217.95 after the company informed that Ravi Sharma has tendered his resignation from the post of Chief Financial Officer (Key Managerial Personnel), effective 12 December 2024.

The company records its deep appreciation for Sharma's services and contributions during his tenure. Following his resignation, Sharma will also no longer be considered a key managerial personnel, effective 12 December 2024.

Tolins Tyres manufactures bias tyres for a wide range of vehicles, including light commercial, agricultural, and two- and three-wheelers, as well as precured tread rubber. Its products also include bonding gum, vulcanizing solutions, tyre flaps, and tubes. The businesses are divided into new tyre manufacturing and tread rubber production, with tyre retreading solutions offered in India and 40 countries.

The companys consolidated net profit jumped 13.5% to Rs 9.60 crore in Q2 FY25 as against Rs 8.46 crore posted in Q2 FY24. Revenue from operations surged 64.2% YoY to Rs 76.88 crore in the quarter ended 30 September 2024.

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