JK Tyre which is one of the best firms for the production of a vehicle tire. The news came up from the JK industries, on Wednesday firm revealed the profit of worth Rs 64.25 crore in the first quarter. The data is for the session which was ended in June.

 

 

Apart from this year ago, JK Tyre posted about their net loss. In that year the company faces the losses of worth Rs 117.21 crore. The data provided here is disclosed by the firm in Bombay stock exchange filing.

Good amount of profit in quarter 1 of the financial year 2018 lightens the hope of investors. The profit which was earned by the firm proves an as great relief for the investors. As they bore losses year ago.

Trends of JK Tyre & Industries

From the first quarter of the financial year 2018. Which was ended on June discloses, revenue from the operation of worth Rs2439.52 crore. In comparison to this year revenue from the operation, it was only stood at Rs1931.80 crore in the same quarter of a financial year ago.

Apart from this, we can’t compare the revenue for operation for 2017-18 because of the following reason-

Revenue from operation after implementation of GST is net of all taxes. While the figures for income from the process for the year ago was inclusive of all excise duty.

 

 

Statement of Raghupati Singhania

Raghupati Singhania who is the Chairman and Managing director of JK Tyre & Industries stated that the first quarter of the financial year 2018 was a higher volume regarding money. The reason behind the profits of the firm is a higher volume in truck and bus radial, passenger car and much more.

He also said that an increase in volume and internal efficiency promoted firm to earn higher profits in quarter 1 of the financial year 2018.

Reports suggested that subsidiaries companies of JK Tyre Industries perform well in this quarter. Such companies are, JK Tornel, Mexico & Cavendish Industries Ltd.

 

 

By getting success in the first quarter of the financial year, 2018 Jk Tyre Industries said that we are a pleasure that our passenger car industry is doing well in the market. The firm is looking forward to gaining such benefits from the market in the future.