JK Tyre and Industries ltd reported a net turnover of Rs 7570 crore for the financial year 2012-13. Its operating profit increased by 90 per cent at Rs 623 crore while profit before before tax increased multifold to Rs 264 crore.
Meanwhile, the company appointed Dr Raghupati Singhania as Chairman and Managing Director of the company. Commenting on the results, Singhania said: "Our continued thrust towards enhancing quality of service to our customers through new offerings of value added products and providing tyre care coupled with improvement of various operating parameters and cost compression measures, in the backdrop of softer raw material prices, helped the Company to improve its profitability significantly.
He further said that Mexican operations have also performed exceedingly well with turnover of Rs 1572 crore and PBT of Rs 116 crore for the year. JK Tornel continues to make new inroads in the various markets and plans are now afoot to enhance capacity to meet the growing demand for its tyres.