JK Tyre sees improvement in sales by Sept-Oct of this year

Arun Bajoria, president and director of JK Tyre says the sales of the company have been affected by the sluggishness in the auto market, which includes brief halts in production. 
The tyre manufacturer posted a 60.96 percent decline in its standalone net profit at Rs 33.70 crore for the quarter ended March 31, 2013. Its net sales came in at Rs 1,377.19 crore in the fourth quarter ended March 30, 2013 from Rs 1,485.39 crore in the year-ago period.
However, going forward, Bajoria expects an improvement in the company’s performance on a whole year basis. "By September-October 2013, things should again look up because of the general improvement in the economy," he told CNBC-TV18 in an interview.
JK Tyre will invest Rs 800 crore to double capacity of its Chennai manufacturing facility over the next two years. "Our Chennai tyre plant will give us full production during this year (April-March 2013-14). That is going to be a huge addition of more than Rs 1000 crore in our topline," Bajoria informs.