JK Tyre & Industries has reported profit after tax of INR 159 crore for the first quarter of this fiscal. Net revenues were INR 3,726 crore and the EBITDA margin was 12.5% for the quarter.
Raghupati Singhania, Chairman and Managing Director, said the fiscal had started on a positive note thanks to the continued focus on premiumisation of the product mix helped by stable input costs. “We are seeing buoyancy in demand in the replacement and OEM segments across product categories. Export demand is also expected to revive in the coming months,” he added.
JK Tyre’s subsidiaries, Cavendish Industries and JK Tornel, Mexico, continued to perform well. “We are confident that India’s growth story will provide us tremendous opportunities and we are aligning our strategies to pave the way for an accelerated growth in the years ahead,” said Singhania.
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