JK Tyre & Industries on Saturday reported a 37 per cent year-on-year improve in consolidated web revenue at Rs 211 crore within the first quarter ended June 30, 2024.
JK Tyre & Industries says complete revenue declined to Rs 3,655 crore for the June 2024 quarter from Rs 3,726 crore within the June quarter of FY24.
JK Tyre & Industries on Saturday reported a 37 per cent year-on-year improve in consolidated web revenue at Rs 211 crore within the first quarter ended June 30, 2024. The tyre maker had reported a web revenue of Rs 154 crore for the April-June quarter of final fiscal.
Whole revenue declined to Rs 3,655 crore for the interval underneath evaluation from Rs 3,726 crore within the June quarter of FY24, JK Tyre mentioned in a regulatory submitting.
“We proceed to ship worthwhile progress with a year-on-year improve in working margins,” JK Tyre Chairman and Managing Director Raghupati Singhania mentioned.
The corporate’s strategic thrust on premiumisation and pricing has helped it handle the uncooked materials value pressures, he added. Though total revenues had been marginally decrease on account of decline within the OEM section, this was largely offset by elevated exports, Singhania said.
Throughout the quarter, exports recorded wholesome double-digit progress, regardless of geo-political disruptions and rising ocean freight, he mentioned.
“Wanting forward, we anticipate export demand to select up,” he added.
JK Tyre’s subsidiaries, Cavendish Industries and JK Tornel, Mexico, continued to make vital contributions to the general revenues and profitability of the corporate, Singhania said.
“We stay optimistic concerning the outlook for tyre demand, pushed by ongoing coverage reforms together with continued deal with infrastructure growth. Furthermore, the upcoming festive season and beneficial monsoon situation augur nicely for the trade,” he said.
