TVS tyres revenue grows to 8%, profit falls 6.4%

TVS TyresTVS tyres reported a revenue growth of 8% to Rs 552.95 crores for the April-June quarter.

Though the material cost remained stagnant compared to the previous year, increase in inventory contributed to the fall in profit to Rs 46.5 crores from Rs. 49.48 crores.

Earnings per share went down by 6.4% to Rs 60.74 from Rs 64.62.

Earlier this month the company had entered the premium motorcycle radial tyres segment with the launch of its brand Protorq in Chennai.

The company had said that the launch of Protorq was a strategic move as the sales of motorcycles above 250cc have been on a rapid growth over the last few years in India.