JK Tyre's quarterly profit registers multi-fold jump to Rs 230 crore

JK Tyre & Industries Ltd on Thursday reported a multi-fold jump in consolidated net profit at Rs 230.46 crore in the third quarter ended December 31, 2020 riding on robust sales and aided by favourable foreign exchange fluctuations. The company had posted a consolidated net profit of Rs 10.27 crore in the third quarter of last fiscal, JK Tyre & Industries said in a regulatory filing. Consolidated revenue from operations during the period under review stood at Rs 2,769.28 crore as against Rs 2,199.80 crore in the corresponding quarter last fiscal, it added. "For the quarter, exceptional items include favourable foreign exchange fluctuation of Rs 40.18 crore," the company said. Commenting on the performance, JK Tyre & Industries Chairman and Managing Director Raghupati Singhania said,"JK Tyre turned out an excellent performance in Q3 - in terms of sales and profitability. This was largely driven by the increased demand for passenger, commercial vehicle as well as farm ...

JK Tyre's quarterly profit registers multi-fold jump to Rs 230 crore
JK Tyre & Industries Ltd on Thursday reported a multi-fold jump in consolidated net profit at Rs 230.46 crore in the third quarter ended December 31, 2020 riding on robust sales and aided by favourable foreign exchange fluctuations. The company had posted a consolidated net profit of Rs 10.27 crore in the third quarter of last fiscal, JK Tyre & Industries said in a regulatory filing. Consolidated revenue from operations during the period under review stood at Rs 2,769.28 crore as against Rs 2,199.80 crore in the corresponding quarter last fiscal, it added. "For the quarter, exceptional items include favourable foreign exchange fluctuation of Rs 40.18 crore," the company said. Commenting on the performance, JK Tyre & Industries Chairman and Managing Director Raghupati Singhania said,"JK Tyre turned out an excellent performance in Q3 - in terms of sales and profitability. This was largely driven by the increased demand for passenger, commercial vehicle as well as farm ...