JK Tyre & Industries on Friday posted an increase of 16.22 per cent in consolidated net profit at Rs76.45 crore for the second quarter ended September 30, on account of increased sales of truck and bus radials.
The company had posted a consolidated net profit of Rs65.78 crore in July-September quarter previous fiscal, JK Tyre said in a statement.
The company's consolidated total income increased by 3.64 per cent to Rs1,872.40 crore during the quarter under review as against Rs1,806.56 crore of the same quarter in the previous fiscal. Commenting on the second quarter performance, JK Tyre & Industries Chairman & Managing Director Raghupati Singhania said, "The company put up a good performance during the second quarter. Our emphasis on truck and bus radials continues to help us ward off slow growth in the overall automotive market."
The company's focus on replacement market by expanding the width and depth of the distribution network, backed by introduction of high performing new products has reaped good dividends, he added.JK Tyre has maintained its leadership in truck/bus radials. JK Tornel, Mexico also continues to perform well and has added to both the top and bottom line of JK Tyre.