JK Tyre Q4 net down 61 per cent to Rs 33 crore

JK Tyre and Industries posted on Monday a 60.96 per cent decline in its standalone net profit at Rs 33.70 crore for the quarter ended March 31, 2013.

The company had a standalone net profit of Rs 86.34 crore in the January-March quarter of FY13.

JK Tyre net sales was Rs 1,377.19 crore in the fourth quarter ended March 30, 2013 from Rs 1,485.39 crore in the year-ago period, it said in a statement.

However, for the financial year ended in March 2013, JK Tyre posted a profit of Rs 105.54 crore, which was Rs 11 crore in fiscal year 2011-12.

JK Tyre net sales in 2012-13 was Rs 5,405.58 crore as compared to Rs 5,462.01 crore in fiscal year 2011-12.

The company has also recommended a dividend of Rs 3.50 per equity share i.e. 35 per cent for the financial year ended 31st March, 2013.

Shares in JK Tyre, on Monday, ended at Rs 117.55 apiece on the BSE, up 1.82 per cent from the previous close.