InvestorQ : How do you see the Jun-20 quarterly results of J K Tyres?
sara Kunju made post

How do you see the Jun-20 quarterly results of J K Tyres?

Answer
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2 months ago


JK Tyres reported a net loss of Rs.204.17 crore in the Jun-20 quarter. It may be recollected that JK Tyres had posted net profits of Rs.16.12 crore in the Jun-19 quarter. Due to the pressure from the auto industry and the lockdown, the net sales of the company fell by over 55% at Rs.1138 crore for the Jun-20 quarter.

However, the CEO of the company has acknowledged that the company’s focus on replacement demand more than OEM demand had helped them tide over the crisis. During the quarter, JK Tyres achieved the highest ever sales in the replacement market for its domestic operations, even as the OEM business continues to falter.