TVS Srichakra Q4 net rises 57% to Rs 34 crore

NEW DELHI: Two and three-wheeler tyre maker TVS Srichakra today posted 56.89 per cent rise in its net profit at Rs 34.03 crore for the fourth quarter ended March 2015.

The company had posted a net profit of Rs 21.69 crore during the same period of previous fiscal.

Net sales of the company rose to Rs 460.87 crore for the fourth quarter, as compared to Rs 448.82 crore during the same period of previous fiscal, TVS Srichakra Ltd said in a filing to the BSE.

For the year ended March 31, 2015 the company posted a net profit of Rs 103.79 crore, as against Rs 47.45 crore in the previous fiscal.

Net sales of the company rose to Rs 1,881.45 crore during the fiscal, compared to Rs 1,658.90 crore in the 2013-14 fiscal.

Commenting on the results, TVS Srichakra Director P Vijayaraghavan said the company could maintain its share with the OEMs as the largest supplier to the vehicle manufacturers.

The company's board, which met today, recommended a dividend of Rs 33.80 per share. Shares of the company ended at Rs 1,877.25 apiece on the BSE, up 1.71 per cent from previous close.