New Delhi: JK Tyre & Industries Ltd, a number one Indian tyre firm, recorded a income of INR 3,726 crore and EBITDA of INR 465 crore in Q1FY24. The Q1 revenue after tax (PAT) is at INR 159 crore.
Raghupati Singhania, the Chairman and Managing Director (CMD) of JK Tyre & Industries, expressed optimism concerning the firm’s efficiency within the present monetary yr. He attributed the constructive begin to improved profitability, which was a results of the corporate’s continued deal with enhancing the product combine with a premiumization method.
“The monetary yr 2023-2024 has began on a constructive observe, when it comes to higher profitability on account of our continued deal with premiumization of the product combine, certainly aided by steady enter prices. We’re witnessing buoyancy in demand within the alternative and OEM segments throughout product classes, pushed by a wholesome macro-economic atmosphere. Export demand can be anticipated to revive within the coming months.” stated Singhania.
With good monsoon, persevering with thrust on infrastructure and festive season coming forward, we stay optimistic on demand for tyres. JK Tyre’s subsidiaries Cavendish Industries Ltd. and JK Tornel, Mexico continued to carry out nicely, with a wholesome contribution to the corporate’s total revenues and profitability, he stated.
“We’re assured that India’s development story will present us large alternatives and we’re aligning our methods to pave the best way for an accelerated development in years forward,” Singhania added.
