JK Tyre to hike prices by 4-5% in Q3 as raw material costs stay elevated
Executive Brief • Key Highlights
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- ✓JK Tyre & Industries Ltd plans to hike tyre prices by 4-5% in the current October-December quarter.
- ✓Managing Director Anshuman Singhania said, "We intend to increase prices in the third quarter in the range of 4-5 per cent." The company aims to offset rising raw material and container freight costs.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Economic Times
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
JK Tyre & Industries Ltd intends to raise tyre prices by 4-5% in the current quarter. The company aims to offset higher raw material and container freight costs. This follows previous price increases of 5% and 7% in earlier quarters. The company reported a decline in profit for the July-September quarter amid challenging operating conditions. Rising costs of raw materials continue to impact the company's profit margins going forward.
New Delhi: JK Tyre & Industries Ltd plans to increase prices of its tyres by another 4-5 per cent in the current October-December quarter as the company looks to offset the impact of higher raw material and container freight costs, according to a senior company official.
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