JK Tyre Q1 net profit falls 95% to Rs 96 lakh

JK Tyre & Industries today reported a 95.08% decline in its net profit for the quarter ended June 30 at Rs 96 lakh.

The company had posted a net profit of Rs 19.53 crore in the corresponding period last year, JK Tyre & Industries said in a filing to the Bombay Stock Exchange (BSE).

The total income during the first quarter, however, increased by 18.95% to Rs 1,413.08 crore from Rs 1,187.97 crore in the year-ago period, it added.

Consumption of raw material during the quarter went up to Rs 1,084.19 crore from Rs 853.38 crore.

Reacting to the numbers, shares of the company were trading 2.07% down at Rs 103.95 during late afternoon on the BSE.