JK Tyre and Industries Hits Record High with nearly 15% Surge on Stellar Q2 Earnings

JK Tyre and Industries, the leading company under the JK Group, witnessed a remarkable surge of over 14% during intraday trading on Thursday, reaching an unprecedented all-time high. This outstanding performance closely followed the company’s earnings report for the September quarter, surpassing market expectations.

In Wednesday’s disclosure, JK Tyre and Industries reported an astounding 398% increase in its consolidated net profit, soaring to ₹249 crore. Contrasting this with the same period last year, where the company recorded a net profit of ₹50 crore, and the preceding June quarter, which saw a net profit of ₹159 crore, highlighted the substantial growth trajectory.


The revenue from operations also experienced a substantial boost, reaching ₹3,905 crore in Q2FY24 compared to ₹3,726 crore in a similar quarter the previous fiscal year. Additionally, the company posted an operating profit of ₹597 crore in Q2, marking an impressive 96% rise compared to ₹305 crore in the year-ago quarter.

Remarkably, the EBITDA margin for Q2 stood at 15.3%, showcasing a significant year-over-year growth of 718 basis points (bps) and a quarter-over-quarter increase of 280 basis points (bps). This notable improvement was attributed to enhanced operational efficiencies, product premiumization, and favorable movements in raw material prices, as indicated in the company’s earnings report.

As the clock struck 12:10 pm, the shares continued their upward trajectory, surging by 8.73% to reach ₹335.05