{"id":1822,"date":"2016-11-10T19:44:34","date_gmt":"2016-11-10T14:14:34","guid":{"rendered":"http:\/\/www.tyremarket.com\/tyremantra\/?p=1822"},"modified":"2023-07-21T17:10:05","modified_gmt":"2023-07-21T11:40:05","slug":"jk-tyres-news-net-profit-plunges-10-third-quarter-2016","status":"publish","type":"post","link":"https:\/\/www.tyremarket.com\/tyremantra\/jk-tyres-news-net-profit-plunges-10-third-quarter-2016\/","title":{"rendered":"JK Tyre&#8217;s Net Profit Plunges by 10% in Third Quarter of 2016"},"content":{"rendered":"<p>Delhi-based India\u2019s leading tyre manufacturer<a href=\"https:\/\/www.tyremarket.com\/JK-Car-Tyres\"><strong> JK Tyre<\/strong><\/a> has registered a 10 percent plunge in its consolidated net profit in the September 2016 quarter. The major ground for this drop has been the Voluntary Retirement Scheme (VRS) burden worth INR 37.6 crore alongside forex loss of INR 23.5 crore.<\/p>\n<p>Here tyre firm\u2019s net profit declined to INR 101.4 crore, whilst on the other hand, its revenue recorded a growth of over 5 percent to INR 2,070 crore largely due to the addition of Birla Tyres sales. JK Tyre of late acquired Birla Tyres business at INR 2200 crore.<\/p>\n<p>JK Tyre had said in a statement that it had offered VRS to 1,000 staff members, which were a part of <a href=\"https:\/\/www.tyremarket.com\/Birla-Two-Wheeler-Tyres\"><strong>Birla Tyres<\/strong><\/a> across its three units. These three units at present have employee strength of 4,500 employees, which is believed to be higher.<\/p>\n<p>The company also saw an impact of Rs 23.5 crore due to the depreciation of Mexican currency vis a vis the dollar and the rupee.<\/p>\n<p>Besides this, another cause for the debacle has been the impact of INR 23.4 crore suffered due to the deterioration of Mexican currency in comparison with the USD and Indian Rupee.<\/p>\n<p><strong>JK Tyre<\/strong> owns and carries out operations of tyre manufacturing plants in Mexico and has sustained a loss of INR 3.36 crore on sale of some assets.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>About the company &#8211;<\/strong><\/p>\n<p>JK Tyre &amp; Industries Ltd popularly called as JK Tyre is the market leader in India in the <strong>Truck\/Bus Radial Tyre<\/strong> Segment. Founded in 1874, JK Tyre has a capacity of production of over 20 million tyres per annum.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Delhi-based India\u2019s leading tyre manufacturer JK Tyre has registered a 10 percent plunge in its consolidated net profit in the September 2016 quarter. The major&#8230;<\/p>\n","protected":false},"author":4,"featured_media":983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[4],"tags":[483,901,902,389,102,871,899,388,898,438,900,862,390],"class_list":["post-1822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-automobile-industry-news","tag-birla-tyres","tag-buy-birla-tyres-online","tag-buy-jk-tyre-online","tag-car-tyres","tag-cheapest-tyres-online","tag-jk-tyre-business-profits","tag-jk-tyre-news","tag-jk-tyres-for-cars","tag-jk-tyres-news-2016","tag-news","tag-shop-tyres-online","tag-tyre-industry-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>JK Tyre Net Profit Plunges by 10% in Third Quarter 2016<\/title>\r\n<meta name=\"description\" content=\"JK Tyre has registered a 10 percent plunge in its consolidated net profit in the September 2016 quarter. JK Tyre Growth Update! Tyre Industry In india.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.tyremarket.com\/tyremantra\/jk-tyres-news-net-profit-plunges-10-third-quarter-2016\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"JK Tyre Net Profit Plunges by 10% in Third Quarter 2016\" \/>\r\n<meta property=\"og:description\" content=\"JK Tyre has registered a 10 percent plunge in its consolidated net profit in the September 2016 quarter. JK Tyre Growth Update! Tyre Industry In india.\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.tyremarket.com\/tyremantra\/jk-tyres-news-net-profit-plunges-10-third-quarter-2016\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Tyremarket : Tyre News, Review &amp; Guide\" \/>\r\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/tyremarketindia\" \/>\r\n<meta property=\"article:published_time\" content=\"2016-11-10T14:14:34+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2023-07-21T11:40:05+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.tyremarket.com\/tyremantra\/wp-content\/uploads\/2016\/07\/JK.jpg\" \/>\r\n\t<meta property=\"og:image:width\" content=\"729\" \/>\r\n\t<meta property=\"og:image:height\" content=\"410\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\r\n<meta name=\"author\" content=\"Ankit verma\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:creator\" content=\"@tyremarketindia\" \/>\r\n<meta name=\"twitter:site\" content=\"@tyremarketindia\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ankit verma\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.tyremarket.com\\\/tyremantra\\\/jk-tyres-news-net-profit-plunges-10-third-quarter-2016\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.tyremarket.com\\\/tyremantra\\\/jk-tyres-news-net-profit-plunges-10-third-quarter-2016\\\/\"},\"author\":{\"name\":\"Ankit verma\",\"@id\":\"https:\\\/\\\/www.tyremarket.com\\\/tyremantra\\\/#\\\/schema\\\/person\\\/622e94976c8daee44e969fe0577d2380\"},\"headline\":\"JK Tyre&#8217;s Net Profit Plunges by 10% in Third Quarter of 2016\",\"datePublished\":\"2016-11-10T14:14:34+00:00\",\"dateModified\":\"2023-07-21T11:40:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.tyremarket.com\\\/tyremantra\\\/jk-tyres-news-net-profit-plunges-10-third-quarter-2016\\\/\"},\"wordCount\":267,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.tyremarket.com\\\/tyremantra\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.tyremarket.com\\\/tyremantra\\\/jk-tyres-news-net-profit-plunges-10-third-quarter-2016\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.tyremarket.com\\\/tyremantra\\\/wp-content\\\/uploads\\\/2016\\\/07\\\/JK.jpg\",\"keywords\":[\"Automobile industry news\",\"Birla Tyres\",\"Buy Birla Tyres Online\",\"Buy JK Tyre Online\",\"Car Tyres\",\"Cheapest Tyres Online\",\"JK Tyre Business Profits\",\"JK Tyre News\",\"JK Tyres For Cars\",\"JK tyres news 2016\",\"News\",\"Shop Tyres Online\",\"Tyre Industry News\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.tyremarket.com\\\/tyremantra\\\/jk-tyres-news-net-profit-plunges-10-third-quarter-2016\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.tyremarket.com\\\/tyremantra\\\/jk-tyres-news-net-profit-plunges-10-third-quarter-2016\\\/\",\"url\":\"https:\\\/\\\/www.tyremarket.com\\\/tyremantra\\\/jk-tyres-news-net-profit-plunges-10-third-quarter-2016\\\/\",\"name\":\"JK Tyre Net Profit Plunges by 10% in Third Quarter 2016\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.tyremarket.com\\\/tyremantra\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.tyremarket.com\\\/tyremantra\\\/jk-tyres-news-net-profit-plunges-10-third-quarter-2016\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.tyremarket.com\\\/tyremantra\\\/jk-tyres-news-net-profit-plunges-10-third-quarter-2016\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.tyremarket.com\\\/tyremantra\\\/wp-content\\\/uploads\\\/2016\\\/07\\\/JK.jpg\",\"datePublished\":\"2016-11-10T14:14:34+00:00\",\"dateModified\":\"2023-07-21T11:40:05+00:00\",\"description\":\"JK Tyre has registered a 10 percent plunge in its consolidated net profit in the September 2016 quarter. 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When all the other kids would break downhill I would pedal harder just to go faster and enjoy the thrill. Adding to my interest for speed, I grew engrossed in the working mechanics of two wheelers thanks to my father as he is a hydraulic mechanic and would take me along with him on his repair sessions. Eventually I became familiar with the tools and basic technical concepts of two wheelers.Super sport and sport tourers are more of my liking and the sparks to these flames were ignited the first time I experienced the maddening power of a Yamaha YZF R1. I was just 14 years old at the time and got to ride as a pillion with an older acquaintance. This one short ride influenced my every decision in terms of the bikes I want to own. As of today I\u2019m 26 years old and a proud owner of a Yamaha Fz15 version 2.0 and a Kawasaki Ninja 650 2014 model having clocked a decent 30k Kms only while touring, waiting to clock 1000s more as riding makes me feel whole again after enduring the dismal routines of life.\",\"sameAs\":[\"http:\\\/\\\/tyremarket.com\"],\"url\":\"https:\\\/\\\/www.tyremarket.com\\\/tyremantra\\\/author\\\/ankit_verma\\\/\"}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"JK Tyre Net Profit Plunges by 10% in Third Quarter 2016","description":"JK Tyre has registered a 10 percent plunge in its consolidated net profit in the September 2016 quarter. JK Tyre Growth Update! 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