JK Tyre profit up 166%

CORPORATE SCORECARD

J K Tyre and Industries recorded a 166 per cent increase in profit for the quarter ended December 31, 2007. Profit for the quarter under review stood at Rs 21.74 crore as compared to Rs 8.17 crore for the corresponding period the previous year.

Profit before tax stood at Rs 77 crore which was a 162 per cent increase compared to the corresponding period last year.The company also reported a turnover of Rs 826 crore for the quarter under review.

Company sources said that J K Tyre's Rs 480 crore expansion plans in the truck/bus radialization, OTR and manufacture of speciality tyres is well under way. The company has already tied up all the finances for the expansion projects.