JK Tyre Registers Massive Increase In Q2 Profit
One of India’s leading tyre manufacturer, JK Tyre and Industries has registered an upward jump in the quarter that ended in September 2018 (Q2 FY19). According to the sources, the net profit with a staggering threefold increase stood at INR 51.9 cr. as against INR 17.40 cr. during the same period last fiscal year, mainly due to healthy operating performance. JK Tyre’s revenue also increased by 21.2 percent and reached INR 2,494 cr. as against INR 2,058 cr. during the same period in the last fiscal year.
The company’s operating profit also has increased by 34 percent and stood at INR 262.4 cr. as against INR 196 cr. during the same period in the last fiscal year.
Chairman & Managing Director, JK Tyre, Dr. Raghupati Singhania told the media, buoyancy in demand continued in Q2 which has helped the company achieving a good growth in sales. JK Tyre has achieved higher sales volumes across its different sections including bus/truck radial segment where the company enjoys a leadership position. However, Dr. Singhania added that the increase in the value of dollar and surge in the prices of oil are the major challenges lying ahead for the company in the coming quarters.
Earlier in the month of September 2018, on the eve of 128th National Day of Mexico, Dr. Raghupati Singhania received the highest civilian honour ‘Mexican Order of the Aztec Eagle’ from the country’s ambassador. The honour was conferred in recognition of his noteworthy services and exemplary leadership towards humanity and his efforts to cement bilateral ties between Mexico and India.