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JK Tyre & Industries has reported consolidated net profit of ₹159 crore for the fourth quarter ended March 31, up 79 per cent over net profit of ₹89 crore recorded in the same quarter last year. However, consolidated net revenue declined marginally year-on-year (YoY) to ₹2,284 crore for the quarter against ₹2,309 crore in the same quarter last financial year. “The year witnessed an unprecedented increase in oil prices which had a major impact on margins,” said Raghupati Singhania, CMD. But, the capacities acquired through Cavendish has helped JK Tyre to gain market penetration apart from increasing its presence in the fast growing 2/3 wheeler segment, he said.
For the full, year, the company reported a consolidated net profit of ₹63 crore a decline of 83 per cent (₹381 crore). However, the revenue for the full year rose to ₹8,543 crore (₹8,383 crore). The board has recommended a dividend of ₹1.50 per equity share of ₹2 each (75 per cent).
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