JK Tyre & Industries Ltd. (JK Tyre) have registered splendid performance for the second quarter.
It has registered Profit After Tax at Rs.59.51 crores for the quarter ending 30th September 2009. In comparison to the same quarter last year Profit after tax was registered at Rs.32.37 crores.The company has reported Net Sales at Rs.938 crores and Total Operating Income of Rs. 941.39 crores. In comparison to the same period last year, Net Sales were at Rs.871 crores while total operating income was at Rs.874.48 crores.
According to Dr. Raghupati Singhania, Vice Chairman & Managing Director, the company has recorded an exceptional performance in Quarter 2 of the current year on account of all round costs management and better operating efficiencies. He further commented that the Automobile sector in India is on its recovery path and has recorded decent growth in the last 2 quarters which is helping the demand for tyres.
The 2009 JD Power study has placed JK Tyre & Industries Ltd at the No.1 spot according to its Customer Satisfaction Index. The company has achieved another distinction by being the first and only Tyre Company to be awarded ‘Superbrand’ title. JK Tyre is currently the 22nd largest tyre manufacturer in the world. The company has also accquired100% shareholding Of Tornel which is a well established tyre manufacturer with 3 plants in Mexico.