TVS Srichakra announced that its standalone net profit increased to ₹21.92 crore from ₹7.11 crore in the fourth quarter ended March 2023. The company’s total income grew to ₹652.73 crore from ₹649.27 crore.

TVS Srichakra’s net profit for FY23 rose to ₹70.12 crore from ₹41.57 crore, while the total income climbed to ₹2,873.26 crore from ₹2,467.98 crore.

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The company’s board recommended a dividend of ₹32.05 per share on the face value of ₹10 per share for FY23, subject to the approval of the shareholders at the ensuing annual general meeting (AGM).

TVS Srichakra Limited manufactures tyres, tubes and rubber products.