Q4FY21 Company Update - JK Tyres & Industries - ICICI Direct equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Indiabulls Housing Finance, Prism Johnson, Mas Financial Services, TCI Express, JK Tyres and Heritage Foodsare among companies that will announce their March quarter results today.
Q3FY21 Company Update - JK Tyres & Industries - ICICI Direct
Posted On: 2021-01-27 09:07:00 (Time Zone: Arizona, USA)
JK Tyre & Industries (JKTIL) reported a robust Q3FY21 performance with highest ever quarterly sales and PAT. Net sales for the quarter were at Rs. 2,769 crore, up 25.4% YoY. EBITDA in Q3FY21 was at Rs. 500 crore with corresponding EBITDA margins at 18.1%, up 250 bps QoQ. PAT in Q3FY21 came in at Rs. 224 crore vs. Rs. 11 crore in Q3FY20 (impacted by low margins in base quarter) and Rs. 105 crore in Q2FY21. Sequential improvement in gross margins (~140 bps) was a key highlight for the quarter. Encouragingly, interest costs continued in downward trajectory.
JK Tyres & Industries soared 13.75% to Rs 131.50 after the company s consolidated net profit surged to Rs 230.66 crore in Q3 December 2020 over a net profit of Rs 11.65 crore in Q3 December 2019.
Consolidated net sales jumped 25.9% to Rs 2769.28 crore in Q3 FY21 as against Rs 2199.80 crore in Q3 FY20. This was best ever sales for any quarter. EBITDA doubled to Rs 507 crore in Q3 December 2020. Profit before tax was at Rs 342.97 crore in Q3 December 2020 as against Rs 23.31 crore in Q3 December 2019. Tax expense for the quarter stood at Rs 67.88 crore as against Rs 14.87 crore in Q3 December 2019. The Q3 result was declared after market hours yesterday, 21 January 2021.