JK Tyre & Industries Q1 Net Profit Down 73% At ₹44.09 Cr

JK Tyre & Industries on Friday reported a 73% decline in consolidated net profit to₹44.09 crore in the first quarter ended June 20, 2026, hit by higher raw material costs amid the West Asia war.

The company had posted a consolidated net profit of ₹163.35 crore in the corresponding quarter of the previous fiscal, JK Tyre & Industries Ltd said in a regulatory filing.

Consolidated revenue from operations in the quarter under review stood at ₹3,946.24 crore as against ₹3,868.94 crore in the same period a year ago.

Total expenses in the first quarter were higher at ₹3,912.75 crore as compared to ₹3,695.08 crore in the year-ago period, the company said.

During the quarter, costs of materials consumed were higher at ₹3,036.51 crore, up from ₹2,266.69 crore in the year-ago period, it added.

"The continuing West Asia crisis led to a sharp increase in raw material prices, which impacted our gross and operating margins. ...Approximately 70% of the tyre industry raw materials are petro-based, hence, it is highly vulnerable to oil price movement," JK Tyre & Industries CMD Raghupati Singhania said.

He, however, said the company continued its steady performance in Q1 FY27 supported by strong demand momentum across segments.

"The performance is driven by sharp focus on customer centricity, product excellence and disciplined execution across markets," Singhania said.

During the quarter, domestic volumes grew by 25% on a year-on-year basis, across both replacement (12%) and Original Equipment (OE) markets (42%), with increasing contribution from higher-value added products, he noted.