JK Tyre Q2 net profit at Rs.25.99 crore

JK Tyre has reported a net profit of Rs.25.99 crore for the quarter ended Sep 30, due to various cost control measures, the company said.

The tyre major Tuesday reported that its total income during the period rose to Rs.1,321.96 crore from Rs.1,246.01 crore in the corresponding period of the last fiscal.

The company had reported a net loss of Rs.54.99 crore for the corresponding quarter of the last fiscal.

According to the company, its net sales in the quarter under review grew by almost 6 percent at Rs.1,313 crore from Rs.1,241 crore as compared to the same period of 2011-12.

For the first half of 2012-13, the company reported a net profit of Rs.50.70 crore from a net loss of Rs.54.03 crore in the same period of the last fiscal.

The company attributed its second quarter performance to the relatively stable raw material prices and an overall increase in the demand.