JK Tyre Net Profit Jumps 24% With Higher Operating Margins
Indian Tyre Industry major, JK Tyre & Industries announced its unaudited financial results for the third quarter of FY2023.
Commenting on the results, Dr. Raghupati Singhania, Chairman and Managing Director (CMD), said, “We continued to maintain our profitability growth in yet another quarter with strong performance across the segments with double-digit revenue growth. Our profit margins improved, supported by softening in raw material prices, continued focus on cost control and timely price revisions. Going forward, we believe, tyre industry is set to witness healthy demand in the domestic market emanating from improved vehicle utilization and thrust on infrastructural development.”
Consolidated | Rs. Crore |
Q3FY23 | |
Net Revenues | 3,623 |
EBIDTA | 349 |
EBIDTA Margin | 9.6% |
Profit Before Tax | 113 |
Profit After Tax | 67 |
He further added “We are committed to bring in best-in-class products to cater to diverse market segments, operational excellence, and continue to deliver improved performance”.
The Company also has a strong network of over 6000 dealers and 650 dedicated brand shops called as Steel Wheels, Truck Wheels and Xpress Wheels. JK Tyre exports to over 100 countries with over 180 global distributors.
