Tuesday, January 26, 2021

JK Tyre Q1 Sales records 6% rise

Must read

ShortsTV enhances regional catalogue, announces a new segment ‘Desi Tadka’

In a country with over 1600 dialects and 22 government recognized languages, it is only natural that Indians look to regional content,...

Star Sports unveils #IndiaTaiyarHai campaign featuring Boman Irani ahead of England’s tour of India

Mumbai, January 2021. After almost a year, cricket finally returns to Indian soil as Team India faces world champions...

How to watch The Family Man, Mirzapur and other popular titles for free on Amazon Prime Video

Love Prime Video’s content? Want to renew your subscription - but it is the end of the month, and the wallet is...

Rana Daggubati on the latest discovery+ original ‘Mission Frontline’

Bengaluru, January 19, 2021. Last December, discovery+ announced it was foraying into the world of exclusive Indian originals. Now,...

New Delhi, August 2, 2019.

Indian Tyre Industry major, JK Tyre & Industries Ltd. (JK Tyre) today announced its results for Q1 of the current Financial Year.  On a Consolidated basis,Net Sales at Rs. 2,581 Crores is higher by 6%.  Operating Profit for the Qtr. is Rs. 246 Crores.  

Commenting on the results, Dr. Raghupati Singhania, Chairman and Managing Director of the Company said, “it was a difficult Quarterfor  Auto Industry, which  is passing through challenging times.  The Quarter ending June 2019 witnessed considerablede-growth in Auto sales. Most of the OEMs have reported heavy reduction in their Sales volumes.  Despite this, the Company has recorded 18% growth in the overall replacement market which could partly off-set lower sales in the OEM segment and exports growth of over 50% over the corresponding period with an overall volume growth of 10%”.

Dr Singhania further added, “that profitability during the Qtr has been impacted due to overall slow-down in automotive sector”.

Despite strong headwinds, the company continued its relentless efforts to achieve higher Sales volumes in 2/3 Wheeler segment.

The Company expects the economy to improve  from the second half of the current year, when the volumes are expected to  pick-up resulting into improvement in  profitability.

The Company’s subsidiaries namely, JK Tornel, Mexico and Cavendish Industries Ltd.have performed well during the Quarter. 

More articles

Latest article

Toyota Breaks Ground for Building New Community Health Centre in Bidadi

Bangalore, January 25, 2021. In line with its commitment to support the growing healthcare needs of the local communities,...

SKODA KUSHAQ: MADE FOR THE WORLD, IN INDIA

Pune, 25 January 2021. As part of the INDIA 2.0 project headed by SKODA AUTO, the all-new SKODA KUSHAQ is the...

Sheaffer’s newest collection at William Penn

William Penn is pleased to announce the launch of the iconic American brand Sheaffer’s new pens collections called Legacy, Prelude and Reminder.

Tata Tele Business Services launches ‘Smartflo’

Bangalore: January 2021. Tata Tele Business Services (TTBS) has introduced Smartflo, a future-ready cloud communication suite that has been innovatively designed to support...

MINI India delivers 512 cars in 2020 with a remarkable growth of 34% in Q4.

Gurugram, January 25, 2021.  MINI India has delivered a strong performance of 512 cars in calendar year 2020 (January...
Live Updates COVID-19 CASES