JK Tyre & Industries has announced its financial results for first quarter of the fiscal year 2010-11. The company has informed that, there has been a declined net profit in this reviewed quarter as compared to the reports its corresponding quarter in last year.

The net profit of the firm was reported to be Rs 19.53 crore for the April-June quarter of the current year.

For the same period of time, the net profit was Rs 40.75 crore in the previous year of 2009-10. Hence the company has suffered a decline of 52.07% in the net profit of the first quarter in this year against its similar quarter in the preceding year.

However, there has been a growth in the total income of the company in this quarter under review.

The total income of the company has gone up to Rs 1,167.97 crore in Q1 of 2010-11 which was recorded Rs 900.70 crore for its like period a year ago. JK Tyre & Industries has produced this fact to the Bombay Stock Exchange in a filing.