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Shares of JK Tyre and Industries on Thursday jumped over 6 per cent after the company reported a consolidated profit after tax of ₹194.96 crore for the March quarter of the previous fiscal.
The stock rose 6.18 per cent to ₹131.25 on the BSE.
Also read: JK Tyre Q4 net at ₹195 crore
On the NSE, it jumped 6.26 per cent to ₹131.50.
JK Tyre and Industries on Wednesday reported a consolidated profit after tax of ₹194.96 crore for the March quarter of the previous fiscal against a consolidated loss of ₹52.78 crore in the year-ago period.
Revenue from operations in the quarter under review rose by 63.21 per cent to ₹2,927.28 crore compared to ₹1,792.56 crore in Q4FY20, the company said.
For the fiscal 2020-21, profit after tax grew more than two-folds to ₹330.93 crore, compared to ₹141.31 crore in FY20. Revenue from operations in the previous fiscal grew 4.35 per cent to ₹9,102.20 crore against ₹8,722.70 crore logged in the year ended March 31, 2020.
Also read: JK Tyre forms tie-up with NATRAX to develop test track in Pithampur
The year began with India in lockdown due to the Covid-19 pandemic and the economy grinding to a halt with Q1FY21 almost a washout, said Raghupati Singhania, Chairman and Managing Director, JK Tyre and Industries.
The economy started opening up gradually from mid-May. As a result of several initiatives taken, JK Tyre recovered fast and achieved the highest sales in Q3FY21 and Q4FY21, increasing its market presence, he added.
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