JK Tyre & Industries Ltd. (JKTIL) reported a consolidated net profit of Rs. 330 crores for the year ended March 31, 2015, an increase of 46 per cent over the previous year. The company achieved a consolidated turnover of Rs. 8,060 crores.
On a standalone basis, JK Tyre reported a turnover of Rs. 6,799 crores with net profit at Rs. 253 crores, an impressive increase of 88 per cent over FY2013-14.
The Board has recommended a dividend of 75 per cent on the equity shares of the company to be approved by the shareholders at the forthcoming annual general meeting.
Dr. Raghupati Singhania, Chairman & Managing Director, JK Tyre & Industries Ltd., said: “The company has recorded a strong financial performance during FY15 despite a difficult year for the auto industry.”
Sharing highlights of the year’s performance, he further said: “JK Tyre continues to win the trust of its customers with its focus on innovation and launched several new higher value-added products in various categories during the year. Focus on widening of the sales network, particularly in rural markets, has helped deeper penetration. All-round improvement in operational efficiencies, including efforts on power conservation, have helped us perform better.”