JK Tyre & Industries on Friday reported consolidated net profit of ₹76 crore for the second quarter ended September 30, up 15 per cent against ₹66 crore in the corresponding period last year.
Total income also grew by four per cent year-on-year (YoY) to ₹1,872 crore during the July-September quarter against ₹1,806 crore in the same period last year.
“We have seen growth across tyres segments including truck, bus, and passenger car tyres. Also the low material costs and our internal efficiencies such as waste management and energy usage helped us grow during the quarter,” AK Bajoria, President and Director, told reporters here.
He said demand from original equipment manufacturers in both commercial and passenger vehicles are expected to grow after the fourth quarter of this year.
Bajoria said the company’s capacity expansion plan in Chennai plants for both truck-bus radial and passenger car radial is also moving ahead as per schedule and should be fully operational by the first quarter of 2016.
The company’s shares closed at ₹517.55 on the BSE on Friday, down 0.50 per cent from the previous close.