Shares of JK Tyre & Industries gained around 3% in early morning trade on February 9, tracking robust consolidated Q3 earnings and improved operating performance.
JK Tyre Q3 results
For the December quarter, JK Tyre reported a 15.0% year-on-year rise in consolidated revenue at Rs 4,223 crore, compared with Rs 3,674 crore in the corresponding quarter last year. Operating performance strengthened meaningfully, with EBITDA jumping 81.7% to Rs 571 crore from Rs 314 crore. The EBITDA margin expanded by 490 bps to 13.5%, up from 8.6% a year ago, reflecting better cost efficiencies and improved profitability.
Net profit saw a sharp surge of 295.4% on a year-on-year basis, coming in at Rs 208 crore versus Rs 52.6 crore in Q3 of the previous financial year. The strong earnings growth supported the positive reaction in the stock during early trade.
JK Tyre share price today
As of 9:30 AM IST, JK Tyre shares were trading higher, reflecting early buying interest following the Q3 announcement. The stock opened at Rs 550.00, compared with a previous close of Rs 541.45. During the session so far, it touched a low of Rs 538.05 and a high of Rs 561.48, which also marked its 52-week high. The 52-week low for the stock stands at Rs 243.00.