On the back of lower raw material prices and increased domestic demand, JK Tyres posted dramatic earnings for Q4FY23 with net profit coming in at Rs.108 crore, an almost 3-times surge from Rs.40 crore posted in Q4FY22.
The company’s revenue from operations rose 10% at Rs. 3,632 crore.
EBITDA for the quarter was up 65% at Rs.376 crore while margins jumped up from 6.9% to 10.4%.
And for FY23, the company has achieved highest ever revenues of Rs.14,681 crore, registering a growth of 22%.
The stock price is seeing a lot of volatility; though it opened higher at Rs.202 from its close of Rs.199.25, which was also its intraday high; from there was profit booking and the stock fell into the red at Rs.187.30 and there remain more sellers than buyers on the counter.