JK Tyre & Industries today reported its revenue of Rs 2,548 crore grew by 23 percent in Q2 FY2019. The company reported net profit of Rs 46 crore in the second quarter and Rs 110 crore in the first half of FY2019.
Dr Raghupati Singhania, chairman and MD, JK Tyre said, “Buoyancy in demand continued in Q2 which has helped the company achieve a good growth in sales. JK Tyre has achieved higher sales volumes across categories including truck/bus radial segment where we enjoy leadership position.”
He further added, “Increasing oil prices and rupee depreciation impacted raw material costs and continues to remain an area of concern”.
Dr Singhania further emphasised, “Encouraged by increasing radialisation in the fast-growing truck/bus radial segment, cavendish industries (CIL), a subsidiary of JK Tyre has undertaken further expansion of its truck/bus radial tyre capacity. This will further strengthen our leadership in this important segment. Furthermore, tractor tyre capacity is also being expanded to meet the growing demand from agriculture sector”.
Consolidating its position in the international two- and three-wheeler tyre segment, JK Tyre claims that its subsidiary namely JK Tornel, Mexico continues to perform well.
Recently, Dr Raghupati Singhania had been conferred with ‘Mexican Order of the Aztec Eagle’, the highest honour accorded to non-nationals by the government of Mexico. The top honour was in recognition of Dr Singhania’s exemplary leadership, his noteworthy services towards humanity and his efforts to strengthen bilateral ties between India and Mexico.