JK Tyre & Industries Ltd Q3FY21 consolidated PAT zooms to Rs. 224.09 crores

JK TYRE & INDUSTRIES LTD. has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.2776 crores during the period ended December 31, 2020 as compared to Rs.2207.07 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.224.09 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.10.95 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.9.10 for the period ended December 31, 2020 as compared to Rs.0.44 for the period ended September 30, 2020.

Financials	Q3 FY20-21	Q2 FY20-21	% Change
Total Income	₹ 2776 crs	₹ 2207.07 crs	25.78%
Net Profit	₹ 224.09 crs	₹ 10.95 crs	1946.48%
EPS	₹ 9.10	₹ 0.44	1968.18%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.2776 crores during the period ended December 31, 2020 as compared to Rs.2286.49 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.224.09 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.104.98 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.9.10 for the period ended December 31, 2020 as compared to Rs.4.26 for the period ended December 31, 2019.

Financials	Q3 FY20-21	Q3 FY19-20	% Change
Total Income	₹ 2776 crs	₹ 2286.49 crs	21.41%
Net Profit	₹ 224.09 crs	₹ 104.98 crs	113.46%
EPS	₹ 9.10	₹ 4.26	113.62%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.6200.63 crores during the 9 months period ended December 31, 2020 as compared to Rs.6950.20 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.130.22 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.197.96 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.5.29 for the 9 months period ended December 31, 2020 as compared to Rs.8.04 for the 9 months period ended December 31, 2019.

Financials	9 Months ended FY20-21	9 Months ended FY19-20	% Change
Total Income	₹ 6200.63 crs	₹ 6950.20 crs	-10.78%
Net Profit	₹ 130.22 crs	₹ 197.96 crs	-34.22%
EPS	₹ 5.29	₹8.04	-34.2%

Commenting on the results, Dr. Raghupati Singhania, Chairman and Managing Director, 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 tyres. Continued focus on improvement in operating effrciencies and reduction in interest costs, contributed to improved profitability."

Dr Singhania added "All nine, JK Tyre plants in India, operated at close to 96% capacity utilization during Q3. It is a matter of satisfaction that some of the plants have achieved certain global benchmark operating parameters."

Shares of JK TYRE & INDUSTRIES LTD. was last trading in BSE at Rs.115.6 as compared to the previous close of Rs. 106.25. The total number of shares traded during the day was 4876226 in over 47926 trades.

The stock hit an intraday high of Rs. 124.9 and intraday low of 111.45. The net turnover during the day was Rs. 578992526.

Source : Equity Bulls

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