JK Tyre & Industries on Monday posted 60.96 per cent decline in its standalone net profit at Rs 33.70 crore for the quarter ended March 31, 2013.
The company had a standalone net profit of Rs 86.34 crore in the January-March quarter of the previous fiscal, 2011-12.
JK Tyre net sales was Rs 1,377.19 crore in the fourth quarter ended March 30, 2013 from Rs 1485.39 crore in the year-ago period, it said in a statement.
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However, for the financial year ended in March 2013, JK Tyre posted a profit of Rs 105.54 crore. For 2011-12 fiscal, it was Rs 11 crore only.
JK Tyre net sales in 2012-13 was Rs 5,405.58 crore as compared to Rs 5,462.01 crore in fiscal 2011-12.
The company has also recommended a dividend of Rs 3.50 per equity share i.e. 35 per cent for the financial year ended 31st March, 2013.
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The company’s scrip closed today at Rs 117.55 per share, up 1.82 per cent from previous close on the BSE.