JK Tyre reports US$ million 3Q net profit

Indian tyre manufacturer JK Tyre has reported consolidated net profits of $14.8 million for its third quarter of 2014, which ended 31 December 31, 2014. The quarterly profit report represents an increase of more 56 per cent compared with the same period last year. JK Tyre’s turnover in the period amounted to $322 million.

Raghupati Singhania, JK Tyre chairman and managing director, said: “The company has significantly improved its performance for the third quarter. Our emphasis on truck and bus radials continues to help us achieve higher growth and maintain a leadership position in the category. Continuous efforts to develop new products that meet changing customer needs and the widening of our sales network has helped deeper market penetration.”