The company’s net sales rose to Rs.1,466.04 crore, as against Rs.1,443.87 crore during the same quarter a year ago.
During 2014-15, the company posted a net profit of Rs. 317.18 crore, up by nearly 17 percent against Rs. 271.24 crore during 2013-14.
In fiscal 2015, net sales rose to Rs.5,754.77 crore against Rs.5,507.77 crore during 2013-14.
“In 2014-15, we experienced a steady growth the replacement market and in the passenger categories of tyres. We have also added new OEMs to our portfolio which will benefit us in the longer run,” the company’s managing director, Anant Goenka said in a statement.
About investments made in the recent past, he said: “Part of Rs.400 crore raised earlier this year is being utilised in expanding our passenger car and two-wheeler tyre capacities in Halol and Nagpur respectively. The expansion plans are on track and we will start commercial production at both Halol and Nagpur plants in fiscal 2016.”