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JK Tyre's Shares Jump Nearly 20 Pc On Strong Quarterly Result

On BSE, the scrip ended at Rs 136.05, jumping 17.69 per cent over previous close. During the day, it was trading at a 52-week high value of Rs 138.7.

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Shares of JK Tyre & Industries Ltd on Friday zoomed nearly 20 per cent after the company posted a multi-fold jump in consolidated net profit in the December 2020 quarter.

On BSE, the scrip ended at Rs 136.05, jumping 17.69 per cent over previous close. During the day, it was trading at a 52-week high value of Rs 138.7.

On NSE, the shares settled at a 52-week high of Rs 138.8 apiece, zooming 19.97 per cent.

The firm on Thursday reported a consolidated net profit of Rs 230.46 crore in the third quarter ended December 31, 2020, riding on robust sales and aided by favourable foreign exchange fluctuations.

The company had posted a consolidated net profit of Rs 10.27 crore in the third quarter of last fiscal, JK Tyre & Industries said in a regulatory filing.

Consolidated revenue from operations during the period under review stood at Rs 2,769.28 crore as against Rs 2,199.80 crore in the corresponding quarter of last fiscal, it added. 

(Reuters)


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