₹1130.8 crore JK Tyres and Industries Ltd – one of the country’s largest tyre manufacturers – on Thursday, reported a consolidated net loss of ₹204.17 crore for the quarter ending June 30, on account of subdued demand for its products in India and export markets due to the Covid-19 pandemic.
The company reported a net profit of ₹16.12 crore in the corresponding period.Due to tepid demand for vehicles across geographies, the revenue from operations during the quarter declined significantly by 56% year on year to ₹1130.8 crore.