JK Tyre Q3 PAT Rise By 53% At Rs 11.65 Crore
JK Tyre & Industries has announced its Unaudited results for the third quarter (Q3) of the current Financial Year (FY’20).
On a consolidated basis, Net Sales are at Rs. 2,207 crores with Operating Profit at Rs 251 crores. On a standalone basis, JK Tyre recorded Turnover of Rs. 1,568 crores with Operating Profit of Rs. 170 crores.
Profit Before Tax (PBT) on a standalone basis is Rs. 29 crores and on a consolidated basis is Rs. 23 crores.
Commenting on the results, Dr. Raghupati Singhania, Chairman & Managing Director, JK Tyre & Industries Ltd., said, “It was indeed a challenging quarter for the automotive industry. Passenger and Commercial vehicles have witnessed a drastic cut in production. JK Tyre has dealt with this difficult situation by focusing on replacement sales and exports. As a result, the Company on a standalone basis, recorded an increase of 13% in Sales compared to the preceding quarter. Exports are up by nearly 40 % during the 9 month period of the current financial year. This twin strategy augurs well for the future”.
The Company’s subsidiaries namely, JK Tornel, Mexico and Cavendish Industries Ltd. continue to perform well.
