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TVS Srichakra Ltd has reported a 60 per cent jump in net profit for the second quarter ended September 30, 2013, as compared with the corresponding quarter of the previous year. It reported a net profit of Rs 8.26 crore (Rs 3.21 crore) on total income of Rs 414.16 crore (Rs 372.46 crore).
On the NSE, the company’s shares of Rs 10 closed higher at Rs 277.20 against the previous close of Rs 270.95.
In a separate press release, TVS Srichakra said it has unveiled Tigertrac, an off-road, radial tyre for agriculture applications for the international market. The TVS Group company introduced the product at Agritechnica 2103, an agri equipment fair in Hanover.
The product will be marketed under TVS Eurogrip brand, the company’s brand for its export markets. Tigertrack is stated to be ideal for farm and road use. It will initially be introduced in the AR65 Series in six size variants suitable for a majority of farm applications and features.
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