JK Tyre Q2 net profit down

JK Tyre’s consolidated net profit for the September quarter Impacted by a voluntary retirement scheme (VRS) burden of Rs 37.6 crore and forex loss of Rs 23.5 crore. The company’s net profit declined to Rs 101.4 crore. Revenue, however, grew over 5% to Rs 2,070 crore mainly due to an inclusion of the sales from the Birla Tyres, a firm it acquired recently.

The company had offered VRS to 1,000 staff employed across three units of Birla Tyres.

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