JK Tyre & Industries’ Q1 net profit tumbles 95.08%

JK Tyre & Industries has reported unaudited results for the first quarter ended June 30, 2011.

The company’s profit for the quarter ended June 30, 2011 has tumbled by 95.08% at Rs 0.96 crore as compared to Rs 19.53 crore for the corresponding quarter last year. Its net sales has grown by 20.47% at Rs 1401.67 crore for the quarter under review from Rs 1163.49 crore for the same quarter last year.

JK Tyre & Industries is the flagship company under the umbrella of JK Organisation. JK Tyre is the pioneer for Steel Radial technology in India. Over the years, the company has expanded and diversified its business portfolio. It has developed into a multi product, multi-location corporate entity.