JK Tyre gains 9% on strong operational performance in September quarter

The management said the profitability during the quarter improved significantly due to aggressive cost-cutting measures.

Shares of JK Tyre & Industries gained 9 per cent to Rs 66 on the BSE in the early morning trade on Thursday after the company reported a strong operational performance with margins hitting a four year high of 15.6 per cent in July-September quarter (Q2FY21).

In Q2FY21, the company reported PBIDT (profit before interest depreciation and tax) of Rs 367 crore against Rs 303 crore in the corresponding quarter of the previous fiscal year. Consolidated revenue from operations rose 5.6 per cent to Rs 2,275 crore from Rs 2,155 crore in the year-ago quarter. Net profit, however, declined 38 per