Revenue from operations in the period under review rose 31% to Rs 2,986.66 crore as against Rs 2,274.84 crore registered in the year-ago period.
Raghupati Singhania, Chairman and Managing Director, said, “JK Tyre has been attaining continuous sales growth despite partially disrupted marketplace. The sales in the replacement market registered healthy growth whereas institutional sales recorded a quantum jump during the quarter.” Exports last quarter went up by 35%.
However, rising inputs costs impacted operating margins. “This could be partially mitigated through enhanced volumes and selective price increases”, he added.
The company’s subsidiary – Cavendish Industries – continued to contribute to revenue growth. JK Tornel, the subsidiary in Mexico has also performed well with significant growth in revenues and profitability, the company said in a statement.
Singhania informed good efforts on vaccinating the population of the country has led to economic recovery which indeed augurs well for the tyre industry in the coming period.
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