The Hindu Business Line : JK Industries net profit at Rs 17 crore; to pay 20 pc

J.K. INDUSTRIES Ltd (JKI), on Tuesday, reported a net profit of Rs 17 crore on a gross turnover of Rs 2,400 crore for the year ended September 30. The company had recorded a net profit of Rs 12 crore for the same period last year.

Exports of tyres stood at Rs 383 crore. The board of directors has recommended a dividend of 20 per cent on the paid-up capital of Rs 37 crore for the financial year under review. The board had declared a 20 per cent dividend last year too.

For the quarter ended September 30, the company registered a net profit of Rs 19 crore (Rs 2 crore) on total revenues of Rs 677 crore. Speaking to Business Line, Mr A.K. Kinra, Finance Director, JKI, said that he expected the bottomline of the company to be "significantly better" during the current financial year. This optimism stems from a number of factors including the availability of additional tyres (as a result of the completion of capacity enhancement) and reduction in international petro-product prices.

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