JK Tyres & Industries Ltd today reported a 10.20 per cent rise in consolidated net profit at Rs 116.77 crore for March quarter.
The company had posted a net profit of Rs 105.96 crore in the January-March period a year ago.
However, net sales during the period under review was down 3.35 per cent to Rs 1,729.42 core as against Rs 1,789.49 crore in the same period a year ago, JK Tyres & Industries said.
For the year ended March 2016, JK Tyres & Industries consolidated net profit was up 40.69 per cent to Rs 463.80 crore as against a net profit of Rs 329.66 crore last fiscal.
Its consolidated net sales for financial year 2015-16 was down 6.13 per cent to Rs 6,877.98 crore as against Rs 7,327.85 crore a year ago.
"JK Tyre had a robust year with profits at its highest, during the year. With Auto industry taking off to a positive start in 2016, the outlook for the current fiscal is promising and we are confident of strengthening our position further this year.
"The Company has performed well despite challenges from the dumping of cheap Chinese tyres and a surge in rubber prices," JK Tyre & Industries CMD Raghupati Singhania said.
Shares of JK Tyres & Industries closed 1.57 per cent up at Rs 84.05 apiece on BSE.
