WinstonLily - China Automobile Expert-CNAUTO

ETMarkets.com A JK Tire source said, “We expect the demand momentum in the tire industry to continue in the medium to long term and the automotive sector is expected to grow even in a positive economic environment.” In an interaction with PTI, Anss human Singhania, Managing Director, JK Tire Anstris, expressed hope that PTI will maintain its growth momentum in terms of revenue and profitability. The company’s consolidated net profit tripled to Rs 227 crore in the third quarter ended December 2023. The operating profit increased to Rs 3,688 crore in October-December as against Rs 3,613 crore in the same period last year. Singhania said, “We are very optimistic about medium to long term demand and the cycle of capital expenditure in the private sector is really starting to rise.” He added that rising disposable incomes have brought about positive buying sentiment. Singhania said, “Overall, we think the economy is going to hold up well ...

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Growth momentum to continue amid positive economic scenario: JK Tyre