JK Tyre & Industries Q1 net profit down 40.19% at Rs 26.67 cr
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The company reported standalone net profit of Rs 26.67 crore for the quarter ended June 30, 2022 as compared to Rs 44.59 crore in the same period last year, registering a year-on-year decline of 40.19 per cent. Net revenue of the company rose substantially by 35.19 per cent at Rs 2,333.57 crore in April-June quarter of this fiscal as against Rs 1,726.13 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 39.91 per cent to Rs 2,162.52 crore from Rs 1,545.65 crore in year ago period. Other Income dipped by 27.24 per cent at Rs 5.61 crore versus (Jun'21 Rs 7.71 crore). Operating Profit slipped by 5.22 per cent to Rs 171.05 crore as against Rs 180.48 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 29.92 per cent in June quarter. Interest declined by 6.32 per cent y-o-y to Rs 54.27 crore, while Taxation decreased by 46.79 per cent at Rs 12.76 crore (Jun'21 Rs 23.98 crore).
