TVS TYRES has recently adopted an all new logo, symbolising their move into the future. They are amongst the largest manufacturers of two-wheeler, three-wheeler and off-road tyres in India. They have now revealed their result for Q3 fiscal year 2014 to 2015.
The Indian tyre manufacturer reveals that revenue for Q3 FY 2014 to 2015 is INR 489.37 crores. In comparison to Q3 of FY 2013 to 2014, where revenue was INR 417.60 crores. TVS Srichakra Ltd. reports a gain of 17 percent in terms of revenue, when compared to previous Q3 results.
P. Vijayaraghavan, Director, TVS Srichakra Ltd. said, "The two wheeler industry is maintaining a double digit growth and as the largest supplier to vehicle manufacturers, our OEM sales continue to be good. With the thrust given in aftermarket, our numbers are consistently growing in this market segment too."
TVS TYRES has also announced an increase of 74 percent in EBITDA. Previously in Q3 fiscal year of 2013 to 2014 EBITDA stood at INR 29.34 crores. During Q3 fiscal year 2014 to 2015 the manufacturer accounted EBITDA of INR 50.97 crores. The margins of EBITDA stood at 10.42 percent.
Other highlights mentioned by TVS TYRES is depreciation charges were INR 7.41 crores as compared to INR 5.59 crores during Q3 FY 2013 to 2014. Interest charges fell from INR 11.38 crores to INR 7.32 crores in Q3 2014 to 2015. PAT for this quarter was at INR 26.46 crores compared to INR 10.50 crores during Q3 FY 2013 to 2014.