TVS Srichakra releases after Q2 PAT climbs 51% YoY | Tech Reddy

TVS Srichakra rose 11.54% to Rs 2818.30 after the company’s consolidated profit increased by 51.01% to Rs 38.22 on 20.56% increase in sales to Rs 833.5 in Q2 September 2022 on 2 September 2022 .

On a consolidated basis, profit before tax (PBT) jumped 52.46% year-on-year to Rs 51.82 crore in Q2 September 2022.

Total spending jumped 18.95% YoY to Rs 782.74 crore in Q2 FY23. Raw material cost used stood at Rs 522.19 crore (up 23.67% YOY) and labor cost stood at Rs 82.9 crore (up 5.38% YOY).

Net income from operating activities stood at Rs 40.84 million for the six months ended 30 September 2022 compared to Rs -58.87 million for the six months ended 30 September 2021.

TVS Srichakra, a member of the TVS group, manufactures tires and two & three wheelers in India. It also manufactures light truck tires, agricultural tires, industrial tires and Off the Road (OTR) tires for export and domestic market.

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