JK Tyre foresees a sustained sales and profitability during the coming period
Shares of tyre manufacturer JK Tyre Industries rose as much as 15.4 per cent to hit fresh 52-week high of Rs 133.40 on the BSE after it reported strong earnings in quarter ended December 2020. The Delhi-based tyre maker in an exchange filing post market hours on Thursday said that its consolidated profit came in at Rs 224 crore compared with Rs 11 crore during the corresponding period a year ago.
Its revenue from operations climbed 22 per cent to Rs 2,769 crore versus Rs 2,275 crore in the same quarter last year. JK Tyre s earnings before interest, taxes, depreciation, and amortization (EBITDA) or operating profit doubled to Rs 507 crore.