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JK Tyre & Industries Ltd (JKTIL) on Monday reported a consolidated net profit of Rs 92 crore for the third quarter ended December 31, 2014 - an increase of over 56 per cent over the corresponding quarter previous year.
Net sales of the company also grew at Rs 1,826 crore during the quarter as compared with Rs 1,703 crore in October-December quarter 2013, the company said in a statement.
“The company has significantly improved its performance for third quarter. Our emphasis on Truck and Bus Radials continues to help us achieve higher growth and maintain its leadership position in Truck/Bus Radials. Continuous efforts to develop new products to cater to the changing customer needs, and widening of sales network has helped deeper market penetration," Raghupati Singhania, Chairman and Managing Director, JKTIL, said.
Recent signs of turnaround in truck and passenger car industry augur well for tyre industry, he said.
JK Tornel, Mexico also continues to add both, to the top and bottom lines of the company.
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