TVS Tyres reports net profit of Rs 48.14 crore in Q3 FY16

Domestic two- and three-wheeler tyre maker, TVS Srichakra, which manufactures products under the TVS Tyres brand, released its audited financial results for the third quarter 2015-16, ended as of December 31, 2015. The company reported an improved EBITDA for the Q3 FY2016 at Rs 81.43 crore compared to Rs 50.94 crore for the corresponding quarter previous fiscal. Also, the depreciation charges for Q3 FY2016 were Rs 10.07 crore as against Rs 7.41 crore in the Q3 FY2015. Meanwhile, The interest charges for the quarter stood at Rs 3.10 crore as against Rs 7.32 crore in Q3 FY2015.

Key highlights of Q3 FY2015-2016

- Revenue for Q3 FY15-16 of Rs 508.71 crore was higher by Rs 19.34 crore when compared to revenue of Rs 489.37 crore in Q3 FY14-15.

- EBITDA for Q3 FY15-16 of Rs 81.43 crore is higher by Rs 30.49 crore when compared to EBITDA of Rs 50.94 crore in Q3 FY14-15.

- EBITDA margins stood at 16%

- PAT for Q3 FY15-16 stood at Rs 48.14 crore as compared to Rs 26.46 crore in Q3 FY14-15.

Commenting on the company’s financial performance, P Vijayaraghavan, director, TVS Srichakra said, “We could turn out a good performance in this Quarter also - registering an increased revenue over same quarter last year, reduction in material cost with judicious inventory management, better working capital management resulting in lowering of finance cost and efficiency improvement helping in bringing down the operational cost, have been salient features.”

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