JK Tyre & Industries on Thursday reported consolidated net profit of ₹106 crore for the fourth quarter ended March 31, up more than 100 per cent compared with ₹45 crore in the corresponding period last year.
However, its net sales fell by around six per cent year-on-year to ₹1,789 crore during the period compared with around ₹1,895 crore during January-March 2014.
EPS for the quarter stood at 4.71 against 2.19.
The board has recommended a dividend of 75 per cent on the equity shares of the company to be approved by the shareholders at the forthcoming Annual General Meeting, the company said.
“JK Tyre continues to win the trust of its customers with its focus on innovation and launched several new higher value added products in various categories during the year,” said Raghupati Singhania, Chairman and Managing Director of JK Tyre & Industries.
Focus on widening of sales network, particularly in the rural markets, has helped deeper penetration, he said.
All round improvement in operational efficiencies, including efforts on power conservation, have helped the company perform better in the financial year.
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