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JK Tyre’s Q4 Net Profit Rose 190% Suggests Report!

18 May 20232 mins read by Angel One
Shares of this company have delivered returns of over 50% in one year.
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On Wednesday, JK Tyre and Industries reported a nearly three-fold rise in fourth-quarter profit, as raw material costs fell and domestic demand saw a boost. The company, which supplies to Maruti Suzuki India Ltd and Tata Motors Ltd reported net profit on a consolidated basis, for the quarter ended March 2023 and stood at Rs 112.52 crore, an increase of 192.79% as compared to Rs 38.42 crore in the year-ago period and increased by 61.88% sequentially. The net sales of the company increased by 9.68% to Rs 3,6332.47 crore in Q4 as compared to Rs 3,311.83 crore in the same quarter last year.   

JK Tyre & Industries Limited is one of India’s foremost tyre manufacturers and is also amongst the top 25 manufacturers in the world. The company offers a wide range of products catering to diverse business segments in the automobile industry. The company is also respected as one of the ‘greenest’ tyre companies in the world, especially in the area of raw water consumption per unit of production, greenhouse gas emissions and energy consumption.  

The company is engaged in the manufacture and marketing of automotive tyres, tubes and flaps. The Company’s tyre products comprise Truck/Bus Radial & Bias, Passenger car radials, 2/3-wheeler tyre, LCV & SCV Bias & Radial, Off-Highway Tyre (OTR and Farm), as well as specialty tyre for Racing, Military/ Defence, Industrial and Farm applications.  

Today, the shares of JK Tyre & Industries Ltd opened at Rs 202 and have touched a high and low of Rs 202 and Rs 187.30, respectively. So far 2,75,965 shares have been traded on the bourses.    

At the time of writing, the shares of JK Tyre & Industries Ltd were trading at Rs 188.90, a decrease of 5.02% from the previous day’s closing price of Rs 199.25 on BSE. The stock has a 52-week high and low of Rs 213.50 and Rs 96.40 respectively on BSE.

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