TVS Srichakra slips after Q2 PAT drops 37% YoY

TVS Srichakra fell 1.25% to Rs 2359.90 after the company reported 36.5% fall in consolidated net profit to Rs 25.31 crore on a 24.5% rise in revenue from operations to Rs 687.51 crore in Q2 FY22 over Q2 FY21.

Total expenses during the quarter increased by 31% YoY to Rs 654.23 crore, due to higher raw material costs (up 44.5% YoY) and higher other expenses (up 97.1% YoY).

Profit before tax in Q2 FY22 stood at Rs 33.99 crore, down by 36.6% from Rs 53.62 crore in Q2 FY21.

TVS Srichakra, makers of TVS Eurogrip brand of tyres is one of India's leading manufacturers and exporters of two, three-wheeler tyres and off-highway tyres.

 

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