JK Tyres and Industries posted a net profit of ₹55.44 crore during the quarter ended June 30, presenting almost no change from the same quarter of the previous fiscal at ₹55.26 crore.
In a statement Raghupati Singhania, Chairman and Managing Director, said that with the car industry registering growth in the last two months, and commercial vehicle segment also showing signs of improvement, the company expects to see better performance in the coming quarters.
Total income during the first quarter stood at ₹1,864.16 crore. During the corresponding quarter of the previous fiscal, income stood at ₹1,876.03 crore.
Singhania further added that the company’s plans of adding capacity at its Chennai tyre plant, which has an outlay of ₹1,430 crore, is also on schedule.