JK Tyre Q4 net profit up 54% at Rs 172 crore

JK Tyre and Industries on Tuesday reported a 54% jump in its consolidated fourth-quarter profit at Rs 171.66 crore. The company had posted a consolidated profit of Rs 111.56 crore in the same quarter, a year ago.

Meanwhile, company's revenue from operations rose to Rs 3714.08 crore in Q4 FY24 as compared to Rs 3644.92  crore in the corresponding year ago period.

According to Raghupati Singhania, Chairman and Managing Director, JK Tyre achieved its highest ever sales and profits during FY 2024.

"Sales at Rs 15,046 crore were marginally higher, with EBIDTA of Rs 2,122 crore increasing by 59% and PAT of Rs 811 crore registering a two-time increase. This performance is attributed to our continued focus on product premiumisation, widening market reach and tech-enabled manufacturing & digitalisation across operations, achieving better efficiencies. Moreover, our strategic initiatives to fortify our balance sheet through equity infusion yielded fruitful results, reinforcing our financial resilience”, he said.

Singhania further stated that during the year, exports were flat, due to geopolitical disruptions, including freight hikes.  "In the coming quarters, the company expects to improve its export volumes," he added.