 "JK Tyre stock surges over 8% on four-fold rise in Q2 net profit")
Shares of JK Tyre & Industries on Tuesday rose sharply by more than 8 per cent, buoyed by the company posting over four-fold increase in consolidated net profit for the second quarter ended September 30.
The stock climbed 7.95 per cent to settle at Rs 105.90 on BSE. Intra-day, it soared 12.13 per cent to Rs 110.
On NSE, shares of the company jumped 8.17 per cent to close at Rs 106.50.
JK Tyre & Industries on Tuesday posted over four-fold increase in consolidated net profit at Rs 460 million for the second quarter ended September 30.
The company had reported a net profit of Rs 100 million during the same period of the previous fiscal.
Net sales rose 23 per cent to Rs 25.48 billion for the second quarter, as against Rs 20.68 billion during the same period of the previous fiscal, JK Tyre & Industries said in a statement.
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