J K Tyre profit zooms

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J K Tyre & Industries Ltd .  (JKTI),  a leader in the Tyre Industry and manufacturer of well known 'J K TYRE' and 'VIKRANT' brands has recorded a turn over of Rs.852 crores in the second Quarter ended 31^st March, 2007.   Profit Before Tax is Rs.22 crores which is five times compared to the corresponding Quarter of the previous year. 

 

Sales increased by 20% and Operating Profit  at Rs.62.40 crores for the Quarter recorded robust increase of 57%. JKTI has achieved this stupendous performance through improvement in  all areas of performance.   

 

Commenting on the same, Dr. Raghupati Singhania, VC & MD, JK Tyre & Industries said, "With heavy investment in infrastructure and accelerated economic activity, Road Transport Sector and Tyre Industry are the natural beneficiaries. The Company is well positioned to cater to the demand acceleration.  The benefits of Expansion of Truck Radial and Passenger Radial capacity completed last year are now being realised.  Cost reduction measures initiated by the Company earlier have also contributed in profitability improvement".

 

Dr. Singhania added that "JK Tyre has taken yet another expansion of Passenger Radial and LCV tyre capacity.  This will further strengthen Company's leadership position in the Indian Tyre market".

 

The Company has also expanded its Off The Road (OTR) capacity in view of the growing potential of this segment.  Further expansion of OTR capacity is under way.  

 

The Company has recently changed its name to JK Tyre & Industries Ltd. (JKTI).   With sales surging ahead, the Company looks forward to continued good working. 

 

Sourced From: Rediffusion - DYR Public Relations