Indian tyre industry major, JK Tyre& Industries Limited (JKTIL) announced its results for Financial Year ending 31st March 2019. Sales at Rs 10,370 crore for the year grew by 24% while Operating Profit for the year at Rs 1,196 crore was 35% higher. PBT for the year was Rs 270 crore on a consolidated basis. Q4 sales at Rs 2,706 crores also grew by 18% over the corresponding period.
Commenting upon the results, Raghupati Singhania, Chairman and Managing Director of the Company said, "FY19 was indeed a landmark year for the Company. JK Tyre sales crossed the Rs 10,000 crore-mark while achieving a robust growth of 24% over the previous year, surpassing the industry growth. Despite Q4 profitability being impacted due to high raw material prices, the operating margins for the year as a whole increased by 35%".
JK Tyre volumes grew by 20% despite aslow down in the automotive sector in the second half of the year.