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Feb 11, 2014

JK TYRE Q3 PROFIT INCREASES 49 %

The Board of Directors of JK Tyre & Industries Ltd. today 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%.

9 months consolidated performance (April 2013 - Dec 2013) - Highlights

  • Operating Profit at Rs.643 Crores, an increase of 37%  over the corresponding period.
  • Turnover Rs.5863  Crores for the 9 months period.
  • Profit Before Tax at Rs.255 Crores as against Rs.170 Crores for corresponding period - an increase of 51%.
  • Net profit at Rs.180 Crores - an increase of 46%.

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 improved performance is also attributed to the continuous focus towards innovation, whereby JK Tyre is constantly tries to introduce products which are aligned to customers' needs. The company during the latter half of 2013 launched a new range of products comprising 10 new tyres.

In fact the company over the last couple of years have been consciously focusing on a customer oriented marketing strategy.

About JK Tyre & Industries Limited:

JK Tyre & Industries Ltd is a part of JK Organization which is one of the leading Private Sector Groups with multi-business, multi-product and multi-location business operations in India founded over 100 years ago.  JK Tyre is a leading four-wheeler tyre manufacturer in India and 19th largest manufacturer in the world with a wide range of products catering to diverse business segments in the four wheeler automobile industry.

JK Tyre has a global presence in 80 countries across six continents with eight plants in India and Mexico. With the commissioning of the Greenfield Project in Chennai, the capacity across 9 plants has crossed the 20 million tyres per annum milestone in India and Mexico with firm plans for enhancement of TBR and Passenger Car radial capacity planned to meet the growing demand for its products.

JK Tyre pioneered radial technology in India way back in 1977, and is the Radial Leader in the country. Riding on more than three decades of technological innovation, JK Tyre offers a wide range of four wheeler tyres for the entire range - Truck/Bus, LCV, Passenger Cars, MUV and Tractors. The company is the manufacturer of India’s largest OTR Tyre VEM 045 40.00-57 60 PRE 4T/L weighing 3.7 tons and 12 feet high. JK Tyre is a preferred supplier to the automotive Original Equipment Manufacturers and is a partner to some of the biggest names in the Indian automobile industry including Maruti Suzuki, Tata Motors, Ashok Leyland, Mahindra & Mahindra, Volvo Eicher, General Motors, Volkswagen, Fiat, Nissan, and TAFE.

JK Tyre is the leading Truck Bus Radial Manufacturer. The company lays special emphasis on establishing a wide distribution network. In India, its nationwide network consists of 138 Selling Locations, 4,000 dealers and over 125 strong nationwide network of retail outlets branded as 'JK Tyre Steel Wheels' which are equipped with the state-of-the-art wheel servicing equipment. It has also established 18 Truck Radial Tyre Care Centres which operate along all major National Highways on 365 days/24 hours basis.