JK Tyre jumps 14% as Q2 net profit surges over three-fold to Rs 168 crore

Shares of JK Tyre & Industries surged as much as 13.87 per cent to Rs 80 apiece on the BSE in the early morning deals on Thursday. The company on Wednesday reported over three-fold jump in consolidated net profit to Rs 167.70 crore in the September quarter driven by gains from deferred tax liability.

It had posted a profit of Rs 45.78 crore in the same period last fiscal. 

Consolidated revenue from operations during the second quarter stood at Rs 2,154.95 crore as against Rs 2,493.76 crore in the year-ago period, down 13.59 per cent, it added. During the period