Stocks

JK Tyre sees worst day in nearly five-months on Q4 profit slump

Reuters Mumbai | Updated on May 17, 2019 Published on May 17, 2019

JK Tyre manufacturer's March-quarter consolidated profit fell 80 per cent. File photo

Shares of JK Tyre and Industries Limited fall as much as 5.6 per cent to Rs 74.9, their biggest intra-day percentage loss since December 2018.

The tyre manufacturer's March-quarter consolidated profit fell 80 per cent due to higher expenses.

The total expenses for the quartter rose 24 per cent to Rs 2670 crore.

In comparison, rivals MRF Limited posted a 15 per cent drop in quarter-profit and CEAT Limited reported 17 per cent fall in profit.

Published on May 17, 2019
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