Indian Tyre Industry major JK Tyre & Industries Ltd. on Wednesday announced its results for Q2FY20.
On a consolidated basis, net sales stood at Rs2,162cr with operating profit at Rs303cr. On a standalone basis, JK Tyre recorded a turnover of Rs1,378cr with operating profit at Rs204cr.
Profit after tax (PAT) on a standalone basis is Rs197cr after taking one-time credit for the deferred tax liability no longer required. PAT on a consolidated basis aggregated to Rs168cr.
Commenting on the results, Dr Raghupati Singhania, Chairman & Managing Director of the Company said, "Indian economy, more particularly the Auto Industry, is passing through challenging times. Production for both passenger and commercial vehicles has been cut drastically during the quarter gone by. The Company is navigating through these difficult times by focusing on all-round cost reduction on one hand, and renewed focus on exports on the other. JK Tyre recorded an impressive 20% increase in sales in2l3 wheeler tyres in the current quafier, compared to preceding quarter, though it is a new entrant in this segment."
On a consolidated basis, net sales stood at Rs2,162cr with operating profit at Rs303cr. On a standalone basis, JK Tyre recorded a turnover of Rs1,378cr with operating profit at Rs204cr.
Profit after tax (PAT) on a standalone basis is Rs197cr after taking one-time credit for the deferred tax liability no longer required. PAT on a consolidated basis aggregated to Rs168cr.
Commenting on the results, Dr Raghupati Singhania, Chairman & Managing Director of the Company said, "Indian economy, more particularly the Auto Industry, is passing through challenging times. Production for both passenger and commercial vehicles has been cut drastically during the quarter gone by. The Company is navigating through these difficult times by focusing on all-round cost reduction on one hand, and renewed focus on exports on the other. JK Tyre recorded an impressive 20% increase in sales in2l3 wheeler tyres in the current quafier, compared to preceding quarter, though it is a new entrant in this segment."
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