JK Tyre reports strong Q4 earnings

Shares of JK Tyre and Industries on Thursday jumped over 6% after the company reported a consolidated profit after tax of Rs 194.96 crore for the March quarter of the previous fiscal.
JK Tyre and Industries on Wednesday reported a consolidated profit after tax of Rs 194.96 crore for the March quarter of the previous fiscal against a consolidated loss of Rs 52.78 crore in the year-ago period.
Revenue from operations in the quarter under review rose by 63.21% to Rs 2,927.28 crore compared to Rs 1,792.56 crore in Q4FY20.

For the fiscal 2020-21, profit after tax grew more than two folds to Rs 330.93 crore over Rs 141.31 crore in FY20. The revenue from operations in the previous fiscal grew 4.35% to Rs 9,102.20 crore against Rs 8,722.70 crore logged in the year ended March 31, 2020.
The business in the March quarter of last year was impacted adversely due to the strict lockdown imposed by the government to curb the spread of Covid-19.
Resumption of operations and improved business environment from second quarter onwards resulted in company attaining healthy sales and profitability.

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