JK Tyre & Industries Ltd. has reported 12 per cent higher turnover at Rs. 2,081 crores in the fourth quarter of 2013-14. Operating profit was at Rs. 199 crores and net profit for the quarter was Rs. 45 crores.
The operating profit for the year at Rs. 890 crores was up by 41 per cent. Turnover at Rs. 8,279 crores, up by nine per cent. While profit before tax at Rs. 374 crores against Rs. 264 crores was up by 42 per cent, net profit at Rs. 263 crores, was up by 29 per cent over the previous year. The Board has recommended a dividend on equity share of 50 per cent.
Dr. Raghupati Singhania, Chairman & Managing Director of JK Tyre & Industries Ltd., said: “The company has performed well, in the face of the challenges during 2013-14. Commercial vehicle production declined, and even passenger cars recorded a negative growth, for the first time ever in the decade. This led to subdued demand for tyres. 
To combat the sluggish market conditions, JK Tyre undertook several strategic actions by renewing its thrust in the replacement market as also adding new OEMs. The company widened its network of customer touch points which enabled it to deliver better service to its customers. Aggressive efforts resulted in export recording a 23% increase during the year”.
He added: “JK Tyre continues its focus on innovation and introduced several new higher value added products both in the commercial as well as passenger tyre categories, which received enthusiastic customer response. JK Tornel, Mexico continues to perform well which has added to the bottom line of JK Tyre”.
The company has undertaken a major expansion at an outlay of Rs. 1,430 crores, to add capacities in the TBR and PCR categories at Chennai tyre plant. This is slated for completion in phases by early 2016.