Highlights
- JK Tyre and Industries quarterly results announced with increased revenue by 22% year-on-year to Rs 2,769.3 crore
- Q3 profit surges to Rs 230 crore
Overview
The JK organization, JK Tire & Industries Limited Company is among the top 25 manufacturers in the world. The company pioneered radial technology designed the first radial tire in 1977 and is currently the market leader in the truck bus radial segment.
It is currently present in 105 countries with over 180 global distributors. The company has 12 sustainable manufacturing facilities globally. There are 9 in India and 3 in Mexico, which collectively produce around 35 million tires annually.
The company has a strong network of more than 4000 dealers and 550 dedicated brand shops called steel wheels and express wheels.
JK Tyre and Industries Q3 Results
Shares of JK Tyre Ltd. rose to their highest in more than two years after the company beat analysts’ estimates in the quarter ended December.
JK Tire & Industries Ltd, the flagship company of the Indian tire industry, has announced record financials for the third quarter of the current financial year.
JK Tyre & Industries on 21 January reported a consolidated profit of ₹230.46 crores for the December quarter from ₹10.27 crore mainly driven by increased demand from all vehicle segments. Revenue grew to ₹2,769.28 crores from ₹2,199.80 crores a year ago.
JK Tyre and Industries Operations Efficiency
Commenting on stunning results, the company’s Chairman and Managing Director, Dr. Raghupati Singhania stated that “JK Tire excelled in terms of sales and profitability in 3. This was largely driven by increased demand for passenger, commercial vehicles as well as farm tires. Improvements in operational efficiency and interest Reducing costs has seen a steady increase in sales.
Also, Dr. Singhania stated that “All nine JK tire plants in India are operated with 96 percent capacity utilization during Q3. It is a matter of satisfaction that some have achieved global benchmark operating parameters. While the company continues to maintain positive growth in sales made of.”
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