JK Tyre Q1 net profit drops 95% to Rs 96 lakh

PTI New Delhi | Updated on July 29, 2011 Published on July 29, 2011

JK Tyre & Industries today reported a 95.08 per cent decline in its net profit for the quarter ended June 30 at Rs 96 lakh.

The company had posted a net profit of Rs 19.53 crore in the corresponding period last year, JK Tyre & Industries said in a filing to the Bombay Stock Exchange.

The total income during the first quarter, however, increased 18.95 per cent to Rs 1,413.08 crore from Rs 1,187.97 crore in the year-ago period, it added.

Consumption of raw material during the quarter went up to Rs 1,084.19 crore from Rs 853.38 crore.

Reacting to the numbers, shares of the company were trading down 1.08 per cent at Rs 105 in late afternoon trade on the BSE.

Published on July 29, 2011
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