JK Tyre mulls price hike to offset rupee depreciation impact
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JK Tyre & Industries Stock News, Analyst Calls And Reviews
JK Tyre & Industries has recorded around seven-fold augmentation in its standalone net profit for the the three month period ended March 31, 2012 at Rs 86.34 crore.
The company has registered a net profit of Rs 12.46 crore during the same period of 2011.
JK Tyre said that its standalone total income grew by 13.16% to Rs 1,523.55 crore during the fourth quarter of 2011-12 as against Rs 1,346.35 crore in the same period of last fiscal.
For the complete 2011-12 fiscal, the company has registered a consolidated net loss of Rs 31.99 crore as compared a net profit of Rs 65.91 crore in the last financial.
But, the overall consolidated income in FY'12 surged 16.20% to Rs 6,947.10 crore as against Rs 5,978.77 crore in FY'11.
While commenting on its outcomes, JK Tyre & Industries Vice Chairman and MD Raghupati Singhania stated, "The rising costs of input along with increase in interest rates was indeed a challenge. Foreign exchange rate volatility impacted the cost of imports as well as domestic input costs."
JK Tyre & Industries could partially mitigate such sharp increase in costs via several steps to perk up its internal efficiencies.
The stock looks good for medium or long term investment.
The investors can buy the stock on declines.
JK Tyre mulls price hike to offset rupee depreciation impact
JK Tyre to raise prices by up to 2% by this month
