Latest News | JK Tyre Shares Zoom 14 Pc After Robust Sep Quarter Earnings

New Delhi, Nov 2 (PTI) Shares of JK Tyre & Industries on Thursday jumped 14 per cent to reach the 52-week high after the company's consolidated net profit surged five-fold in the September 2023 quarter.

The stock rallied 13.94 per cent to Rs 351.05 -- its 52-week high -- on the BSE.

Also Read | Chhattisgarh Foundation Day 2023 Date and Significance: Know History of Chhattisgarh Rajyotsava Day When the State Was Formed.

At the NSE, it zoomed 13.98 per cent to reach its 52-week high of Rs 351.25.

JK Tyre & Industries on Wednesday said its consolidated net profit surged five-fold to Rs 249 crore for the September quarter, riding on a robust performance in the domestic market.

Also Read | Karnataka Rajyotsava Day 2023 Date: Know History and Significance of the Day When the State of Karnataka Was Formed.

The company reported a consolidated net profit of Rs 50 crore in the July-September period of the last fiscal.

Net revenues in the second quarter increased to Rs 3,905 crore from Rs 3,764 crore in the year-ago period.

"The sustained thrust on larger market presence enabled to boost volumes across segments and product categories," JK Tyre & Industries Chairman and Managing Director Raghupati Singhania said in a statement.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)