JK Tyre Q4 net up 9%

JK Tyre has reported a 9% growth in net profit for the quarter ended March 31, 2016. The company reported a profit of Rs 94 crore during the quarter against Rs 86 crore in the corresponding period of previous year.

Net sales, however, declined marginally to Rs 1,481 crore.

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.

Net sales for the year declined 4% to Rs 5,813 crore due to six% reduction in prices during the year, the company said.