JK Tyre lifts sales & operating profit, net profit down

In the second quarter of its current financial year – the three months to 30 September – JK Tyre & Industries increased its total income by 5.2 per cent year-on-year to Rs 20.7 billion (£245.7 million) and lifted operating profit by 22.1 per cent to Rs 3.2 billion (£38.0 million). Operating margin rose from 13.2 per cent in the corresponding quarter of last year to 15.3 per cent. Meanwhile, net profit declined 13.5 per cent year-on-year to Rs 1.0 billion (£11.9 million).

Upon publishing its second-quarter consolidated financial results, JK Tyre comments that these include figures from Cavendish Industries Ltd., which it acquired on 13 April 2016. The tyre maker, the third largest in India after Apollo Tyres and MRF, notes that the results are therefore “not comparable” with the prior-year period.

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