JK Tyres net falls 14.3 per cent
It is a matter of concern that chinese tyres continue to flood Indian market, more particularly, in the truck/bus radial segment, chairman & MD said.
By ET Bureau | Updated:
NEW DELHI: J K Tyres reported a 14.3 per cent drop in net profit at Rs 100.26 crore for the first quarter ended June 30, 2016.
The company had posted net profit of Rs 117.07 crore in the year-ago period.
Total income from operations increased by 0.8 per cent to Rs 1780.75 crore.
Raghupati Singhania, chairman & managing director of JK Tyre & Industries Ltd, said, "It is indeed a matter of great concern that chinese tyres continue to flood Indian market, more particularly, in the truck/bus radial segment which is causing great injury to the Indian tyre industry which has made significant investment for creating truck/bus radial capacity in the last few years."
The company had posted net profit of Rs 117.07 crore in the year-ago period.
Total income from operations increased by 0.8 per cent to Rs 1780.75 crore.
Raghupati Singhania, chairman & managing director of JK Tyre & Industries Ltd, said, "It is indeed a matter of great concern that chinese tyres continue to flood Indian market, more particularly, in the truck/bus radial segment which is causing great injury to the Indian tyre industry which has made significant investment for creating truck/bus radial capacity in the last few years."
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