JK Tyre turns profitable in Q3 on improved demand
JK Tyre has declared its third quarter results. The company's Q3 net profit was down at Rs 21.1 crore versus Rs 26 crore, YoY.
JK Tyre has turned profitable in the December quarter on deeper market penetration and lower raw material cost. The company has posted Rs 21 crore profit againt Rs 21.30 crore loss, year-on-year.
Its net sales were down 7.35% Rs 1,281.49 crore, YoY.
JK Tyre and Industries closed at Rs 116.40, up Rs 2, or 1.75%. It has touched an intraday high of Rs 118.85 and an intraday low of Rs 113.55. There were pending buy orders of 545 shares, with no sellers available. It was trading with volumes of 40,222 shares.