Jk tyre reports 9% growth in net profit in Q4.
JK Tyre has reported a 9% growth in net profit for the quarter ended March 31, 2016. The company reported a profit of INR 94 crore during the quarter as compared to INR 86 crore in the corresponding period of previous year. However, there was a marginal decline in company’s net sales owing a 6% reduction in prices during the year 2016..
The company posted a record profit in a single year during the fiscal year ended March 31, 2016. Its net profit jumped 58% to Rs 401 crore mainly due to low rubber prices.