JK Tyre & Industries Limited Announces Unaudited Consolidated and Standalone Earnings Results for the Fourth Quarter and Audited Consolidated and Standalone Earnings Results for the Full Year Ended March 31, 2017
May 15, 2017 at 10:13 am EDT
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JK Tyre & Industries Limited announced unaudited consolidated and standalone earnings results for the fourth quarter and audited consolidated and standalone earnings results for the full year ended March 31, 2017. For the quarter, the consolidated company reported gross sales of INR 22,881.3 million against INR 18,916.6 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 1,280 million against INR 2,131.3 million a year ago. Profit from ordinary activities before tax was INR 1,112.5 million against INR 1,557.8 million a year ago. Net profit for the period was INR 920.3 million against INR 1,223 million a year ago. Basic and diluted earnings per share before and after extraordinary items were INR 3.91 against diluted earnings per share before and after extraordinary items of INR 5.44 a year ago.
For the year, the consolidated company reported gross sales of INR 80,875 million against INR 75,076 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 8,410.9 million against INR 9,004.8 million a year ago. Profit from ordinary activities before tax was INR 5,352.4 million against INR 6,595.1 million a year ago. Net profit for the period was INR 3,798.2 million against INR 4,567.9 million a year ago. Basic and diluted earnings per share before and after extraordinary items were INR 16.55 against diluted earnings per share before and after extraordinary items of INR 20.60 a year ago. EBITDA was INR 11,980 million.
For the quarter, the standalone company reported gross sales of INR 17,719.2 million against INR 16,432.2 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 433.5 million against INR 1,898.2 million a year ago. Profit from ordinary activities before tax was INR 719 million against INR 1,367.7 million a year ago. Net profit for the period was INR 710.1 million against INR 1,056.3 million a year ago. Basic and diluted earnings per share before and after extraordinary items were INR 3.13 against basic and diluted earnings per share before and after extraordinary items of INR 4.66 a year ago.
For the year, the standalone company reported gross sales of INR 65,389.1 million against INR 64,425 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 5,623.8 million against INR 8,271.5 million a year ago. Profit from ordinary activities before tax was INR 4,597 million against INR 6,008 million a year ago. Net profit for the period was INR 3,321.3 million against INR 4,224.9 million a year ago. Basic and diluted earnings per share before and after extraordinary items were INR 14.64 against INR 18.72 a year ago.
JK Tyre & Industries Limited is an India-based tyre manufacturer. The Company and its subsidiaries are engaged in developing, manufacturing, marketing and distributing automotive tyres, tubes, flaps and retreads. The Company's segments include India, Mexico and Others. The Company markets its tyres for sale to vehicle manufacturers for fitment in original equipment and for sale in replacement markets worldwide. It provides end-to-end solutions across segments of passenger vehicles, commercial vehicles, farming, off-the-road, and two and three-wheelers. Its puncture guard product prevents punctures. It provides Smart Tyre technology and Tyre Pressure Monitoring Systems, which offers TREEL sensors that monitors the tyre's vital statistics, including pressure and temperature. It also has a network of over 6000 dealers and 650 brand shops called as Steel Wheels, Truck Wheels and Xpress Wheels. The Company has approximately 12 manufacturing facilities: nine in India and three in Mexico.
JK Tyre & Industries Limited Announces Unaudited Consolidated and Standalone Earnings Results for the Fourth Quarter and Audited Consolidated and Standalone Earnings Results for the Full Year Ended March 31, 2017