Udaipur : Indian Tyre Industry major, JK Tyre & Industries Ltd. (JK Tyre) announced its unaudited results for Q1 of FY2024.
Dr. Raghupati Singhania, Chairman and Managing Director (CMD), said, “The financial year 2024 has started on a positive note, in terms of better profitability as a result of our continued focus on premiumization of the product mix, indeed aided by stable input costs. We are witnessing buoyancy in demand in the replacement and OEM segments across product categories, driven by healthy macro-economic environment. Export demand is also expected to revive in the coming months.
With good monsoon, continuing thrust on infrastructure and festive season coming ahead, we remain optimistic on demand for tyres.
JK Tyre’s subsidiaries Cavendish Industries Ltd. and JK Tornel, Mexico continued to perform well, with healthy contribution to Company’s overall revenues and profitability.
He further added “We are confident that India’s growth story will provide us tremendous opportunities and we are aligning our strategies to pave the way for an accelerated growth in years ahead.”