The Board of Directors of JK Tyre & Industries Ltd. recently approved the Company’s financial results for Q3 of 2013-14.
Q3 Consolidated financial performance – Highlights
- Operating Profit at Rs.189 Crores, an increase of 18% over the corresponding Qtr.
- Turnover Rs.1869 Crores for the Qtr.
- Profit Before Tax at Rs.85 Crores against Rs.57 Crores – an increase of 49% over corresponding Qtr.
- Net profit at Rs.59 Crores – an increase of 56%.
Dr Raghupati Singhania, Chairman & Managing Director of the Company commenting on the results said, “The Company has performed well during the Qtr despite a subdued demand for tyres. Indian Automobile industry is passing through a difficult phase as both Passenger Cars and Commercial vehicles registered a negative growth. JK Tyre has been able to face these challenging times with its leadership in Truck/Bus radials with highest market share in India and focus on new product introductions in the market and widening customer base. Special efforts have been made to increase Exports”.
Dr Singhania further said, “That JK Tornel, Mexico continues to perform well which has added to the bottom line of JK Tyre”.
The company over the last couple of years have been consciously focusing on a customer oriented marketing strategy and believes that the recent growth is the result of its customer-oriented strategy.