Udaipur : Indian Tyre Industry major, JK Tyre& IndustriesLtd.(JKTyre) announced itsunaudited results for first quarter of FY2021-22.
- RevenuesRs.2618 croreup by130%,
Commenting on the results, Dr. Raghupati Singhania, Chairman and ManagingDirector(CMD), said, “The first quarter of this fiscal year started on a subduednote due to resurgence of second wave of the pandemic and lockdowns, whichimpacteddemand. Despitethesechallengingmarketconditions,weachievedencouraginggrowthinrevenuesandprofitability. Withtherisinginputcosts,operatingmarginswereimpacted.Nonetheless,wearetakingjudiciouspriceincreaseacrossproductcategories. TheCompanycontinuedtofocusonreplacement and export sales. At the same time relationship with OEMs are beingexpandedandstrengthened.”
“Weexpectimprovedmarketconditions,emanatingfrom higher inoculation levels and sharprecoveryineconomicactivities, whichislikelytoimprovesaleinbothreplacementandOEMsegments. Goingforwardweare optimistic and expect ahealthygrowthoftheindustry.”
Dr.Singhaniafurtheraddedthat,“theCompanycontinuestogiveutmostprimacyto the well-being and safety of its employees, business partners and society. In thisdirection, we have launched an initiative “JK Cares” program, to support the familyof employees, who lost their lives during the pandemic on three fronts – financial, educationalandhealthinsurance.”