JK Tyre and Industries' Q3 profit up 24%, income rises 17%

08 Feb 2023 CW Team

JK Tyre and Industries, one of the largest tyre manufacturers in India posted a consolidated net profit of Rs 66.75 crore during the October to December quarter of 2022-23, up 24 per cent from Rs 53.92 crore during the same period last financial year.

The company’s total income during the quarter was seen up by 17 per cent to Rs 3,622.62 crore, as against Rs 3,083.95 crore during the third quarter of 2021-22. “For several quarters, raw material cost was going up, during the current quarter it softened. We have seen an increase in overall efficiency and total volume too has gone up by 10 per cent during the current quarter. Still, the entire recovery has not happened and some under-recovery is there,” said Anuj Kathuria, President (India), JK Tyre.

The company’s board has cleared its plans to raise up to Rs 240 crore through the issue of securities. “The Board has approved the issuance of 24,000 Compulsorily Convertible Debentures (carrying an interest at the rate of6 per cent per annum, compounded cumulatively on a quarterly basis) to International Finance Corporation by way of a preferential issue on a private placement basis, for raising an amount aggregating up to Rs 240 crore, which shall be convertible into equity shares of the Company at a conversion price of Rs 180.50 each,” a statement said.

Kathuria added that the company will post improved numbers during the fourth quarter. “Quarter four is generally very good for the auto industry as well as the tyre industry. We expect that this year will also be the same. Last year, Q4 was high, so we have a higher base,” he added.

Also Read
India committed to reach net-zero by 2070
Rajkot Cricket Stadium decks up with energy efficient LEDs

Technology

28 Oct 2025

Building Faster, Smarter, and Greener!

Backed by ULCCS’s century-old legacy, U-Sphere combines technology, modular design and sustainable practices to deliver faster and more efficient projects. In an interaction with CW, Rohit Prabhakar, Director - Business Development, shares how the company’s integrated model of ‘Speed-Build’, ‘Smart-Build’ and ‘Sustain-Build’ is redefining construction efficiency, quality and environmental responsibility in India.U-Sphere positions itself at the intersection of speed, sustainability and smart design. How does this translate into measurable efficiency on the ground?At U..

Smart Roads, Smarter India

India’s infrastructure boom is not only about laying more kilometres of highways – it’s about building them smarter, safer and more sustainably. From drones mapping fragile Himalayan slopes to 3D machine-controlled graders reducing human error, technology is steadily reshaping the way projects are planned and executed. Yet, the journey towards digitisation remains complex, demanding not just capital but also coordination, training and vision.Until recently, engineers largely depended on Survey of India toposheets and traditional survey methods like total stations or DGPS to prepare detai..

What Does DCPR 2034 Mean?

The Maharashtra government has eased approval norms for high-rise buildings under DCPR 2034, enabling the municipal commissioner to sanction projects up to 180 m on large plots. This change is expected to streamline approvals, reduce procedural delays and accelerate redevelopment, drawing reactions from developers, planners and industry experts about its implications for Mumbai’s vertical growth.Under the revised DCPR 2034 rules, buildings on plots of 2,000 sq m or more can now be approved up to 180 m by the municipal commissioner, provided structural and geotechnical reports are certified b..