JK Tyre reports net loss of Rs 53 crore in Q4

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JK Tyre and Industries on Monday reported a consolidated net loss of Rs 52.78 crore for the fourth quarter ended March 31, 2020. The company had posted a net profit of Rs 33.66 crore for January-March period of 2018-19.

Revenue from operations declined to Rs 1,794.76 crore for the fourth quarter as against Rs 2,703.71 crore in the same period of 2018-19, JK Tyre and Industries said in a regulatory filing.

For 2019-20 fiscal, the company reported a net profit of Rs 141.31 crore as compared with Rs 170.57 crore in 2018-19, it added.

Revenue from operations in FY20 declined to Rs 8,724.9 crore as compared with Rs 10,367.76 crore in 2018-19.