Monday, May 20, 2024

JK Tyre Revenue up by 31%

Indian tyre industry major, JK Tyre& Industries Ltd. (JK Tyre) announced its un-audited results for 2 nd Qtr.of FY21-22.

Commenting on the results, Dr. Raghupati Singhania, Chairman and Managing Director, said, “JK Tyrehas been attaining continuoussales growth despite partiallydisrupted market place. The sales in the replacement market registered healthy growth whereas institutional sales recorded a quantum jump during the quarter. JK Tyre’s continued thrust resulted in 35% rise in Exports. The rising inputs costs impacted operating margins. This could be partially mitigated through enhanced volumes and selective price increases”.

The Company’s subsidiary – Cavendish Industries Ltd continues to contribute to revenue growth. JK Tornel, the subsidiary in Mexico has also performed well with significant growth in revenues and profitability.

Good efforts on vaccinating the population of the country has led to economic recovery whichindeed augurs well for the tyre industry in the coming period.

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