Driven by greater emphasis on truck and bus radials, JK Tyre & Industries ltd (JKTIl) reported an impressive increase of 56 per cent in its consolidated net profit for third quarter of the current fiscal, as it stood at Rs91.81 crore against Rs59.03 crore of the corresponding period last year.
The company recorded a turnover of 1,686 crore on a standalone basis during Q3 of FY15. JK Tyre's consolidated net sales during the quarter under review also rose to Rs1,825.76 crore, up 7.18 per cent from Rs1,703.42 crore in the same period last fiscal, the company said in a statement.
"The Company has significantly improved its performance for Q3. Our emphasis on Truck and Bus Radials continues to help us achieve higher growth and maintain its leadership position in Truck and Bus Radials. Continuous efforts to develop new products to cater to the changing customer needs, and widening of sales network, has helped deeper market penetration," said JK Tyre & Industries ltd President and Director, Arun Kumar Bajoria.
The company's nine tyre manufacturing plants located in Asia and Central America (six are in India while three are situated in Mexico), have produced the aforementioned numbers. The statement further said that the expansion of its Chennai Plant at an outlay of Rs1,430 crore to add capacity in the TBR and PCR categories, is going along well.