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JK Tyre Q3 net profit dips 87% to Rs 11 crore

Press Trust of India  |  New Delhi 

Tyre manufacturer & Industries today said its consolidated net profit declined by 86.9 per cent at Rs 11.32 crore for the third quarter ended December 2017.

The company had reported a net profit of Rs 86.46 crore for the same period of previous fiscal.

Total income of the company, however, increased to Rs 2,135.40 crore for the third quarter as against Rs 1,991.95 crore in the same period of previous financial year, said in a statement.

"A labour restructuring was successfully completed at Tornel, Mexico, which impacted the operations during the quarter, however, will give rich dividends in the coming period," & Industries said.

The imposition of much awaited anti-dumping duty on cheap Chinese truck/bus radial tyres is indeed a welcome step and will further help enhancing volumes, he added.

Shares of the company today ended 7.6 per cent up at Rs 190.35 on the

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 12 2018. 20:35 IST