Stocks

JK Tyre shares surge over 15 per cent

Internet Desk | Updated on October 23, 2020 Published on October 23, 2020

Shares of JK Tyre are among the top performers on the Nifty 500 index today and has gained as much as 15.69 per cent to ₹76.7. The stock is up for the third consecutive day and has gained 24.11 per cent.

Q2 performance

The company reported a consolidated net profit of ₹110 crore for the second quarter ended September 30, down 34 per cent compared with ₹168 crore in the corresponding period last year. However, consolidated revenue from operations grew 6 per cent year-on-year to ₹2,275 crore (₹2,155 crore).

On a quarter-on-quarter basis, the company's financial results improved a lot. It had, during the April-June quarter, reported a net loss of ₹204 crore and its revenue from operations was at ₹1,131 crore.

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Published on October 23, 2020
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