JK Tyre & Industries on Friday reported 80 per cent decline in consolidated net profit at Rs 38.22 crore for the fourth quarter ended March 31, 2022, impacted by higher expenses primarily due to rise in input costs.
The company had posted a net profit of Rs 194.96 crore for the same period of previous fiscal year, JK Tyre & Industries said in a regulatory filing.
Revenue from operations in the quarter stood at Rs 3,311.83 crore as against Rs 2,927.28 crore in the year-ago period, it added.
Total expenses were higher at Rs 3,280.78 crore as compared to Rs 2,673.58 crore in the corresponding period a year ago, with cost of materials consumed rising to Rs 2,219.63 crore from Rs 1,839.4 crore in the same quarter previous year.
For fiscal year ended March 31, 2022, consolidated net profit was at Rs 201.24 crore as compared to Rs 330.93 crore, down 39.2 per cent.Revenue from operations was at Rs 11,982.96 crore as compared to Rs 9,102.2 crore in FY21.