JK Tyre shares surge over 16% on stellar Q3 results

Stocks of JK Tyre & Industries today soared over 16 per cent after the company reported 55.53 per cent jump in consolidated net profits for the third quarter ended December 31, 2014.
The stock jumped 16 per cent to Rs 121.90 at the BSE.
On the NSE, it soared 16.16 per cent to Rs 121.80.
JK Tyre & Industries had yesterday reported 55.53 per cent jump in consolidated net profit at Rs 91.81 crore for the third quarter ended December 31, 2014, on account of company's focus on radial tyres.
The company had reported consolidated net profit of Rs 59.03 crore in the October-December quarter of last fiscal.

JK Tyre's consolidated net sales during the quarter under review also rose to Rs 1,825.76 crore, up 7.18 per cent from Rs 1,703.42 crore in the same period last fiscal, the company had said in a statement.