JK Tyre & Industries Q2 net profit down 33.68% at Rs 36.07 cr
The company reported standalone net profit of Rs 36.07 crore for the quarter ended September 30, 2022 as compared to Rs 54.39 crore in the same period last year, registering a year-on-year decline of 33.68 per cent. Net revenue of the company rose moderately by 19.42 per cent at Rs 2,411.29 crore in July-September quarter of this fiscal as against Rs 2,019.16 crore in the corresponding period last year. During July-September quarter, operating expenses increased by 22.48 per cent to Rs 2,237.31 crore from Rs 1,826.69 crore in year ago period. Other Income dipped by 23.79 per cent at Rs 6.79 crore versus (Sep'21 Rs 8.91 crore). Operating Profit slipped by 9.61 per cent to Rs 173.98 crore as against Rs 192.47 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 24.24 per cent in September quarter. Interest grew by 1.60 per cent y-o-y to Rs 59.15 crore, while Taxation decreased by 59.74 per cent at Rs 11.91 crore (Sep'21 Rs 29.58 crore).