• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi, Oct. 23 JK Tyre and Industries Ltd posted over two-fold increase in its net profit for the fourth quarter and the financial year ended September 2007, mainly on the back of sustained raw material prices of oil and rubber, a mix of products in different segments and new product offerings.

Net sales for the quarter fell marginally but net profits soared.

“There was a slowdown in the industry. Sales have taken a dip by about 5 per cent over the quarter. But we gained from the prices of rubber and oil. We also introduced about 18 products in the last one year which has helped us to achieve high profits,” said Mr Raghupati Singhania, Vice-Chairman and Managing Director. The company’s consumption of raw material fell to Rs 484.46 crore during the quarter (Rs 531.91 crore). However, for the year ended September 2007, there was a marginal increase in its raw material consumption to Rs 1,957.91 crore (Rs 1,885.04 crore).

Mr Singhania said that of its net sales of Rs 2,609 crore, Rs 500 crore was from the export market. However, going forward, the company would be reducing exports from India and outsourcing it to countries like China.

More Stories on : Tyres

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Jain Irrigation net jumps 84% in Q2

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line