JK Tire & Industries Q1 Net Profit down 25 PC at £ 163.35 CR

New -delhi, August 8 (PTI) JK Tire & Industries Ltd on Friday reported a 25 percent drop in the consolidated net profit to £ 163.35 crore in the first quarter ended 30 June 2025, which was influenced by higher raw material costs. The company placed a consolidated net profit of £ 218.3 crore in the corresponding quarter in the last quarter, JK Tire & Industries Ltd said in a regulatory filing. Consolidated revenue from quarter reviewed was a £ 3,868.94 crore compared to £ 3,639.08 crore in the same period a year ago, he added. The total spending in the first quarter was higher at £ 3,695.08 crore of £ 3,364.02 crore in the previous year, the company said. The cost of materials consumed in the term grew to £ 2,266.69 crore versus £ 2,166.88 crore in the same period last, he added. Raghupati Singhania, chairman and managing director of JK Tire & Industries, said the growth momentum in domestic markets remains strong in the first quarter, with the company a sales growth of 11 percent year-on-year (YOY), such as a steady demand for our products in both replacement and original equipment. “Despite a challenging and uncertain macroeconomic environment, the export of passenger car tires has seen a strong traction on a QOQ (quarter-to-quarter) and a Yoy base, meaning the draw for our products and an improved brand perception in the world markets,” he noted. Both subsidiaries, Cavendish (India) and Tornel (Mexico), continued to significantly contribute the company’s overall finances, JK Tire said. On the outlook, the company said that the demand for tires in H2 would pick up, supported by pressure on infrastructure and overall economic momentum. “It’s good for the company,” it says.