Shares JK Tyre and Industries surged over 18 per cent to an intraday high of Rs 124 on Tuesday after the company reported strong earnings for the quarter ended December 2014 post the market hours on Monday.
JK Tyre reported a consolidated net profit of Rs 92 crore for the October-December quarter against Rs 59 crore during the same period last fiscal, a year-on-year growth of 56 per cent.
JK Tyre's consolidated net sales during the quarter under review rose to Rs 1,826 crore, up 7 per cent from Rs 1,703 crore in the same period last fiscal.
JK Tyre's emphasis on truck and bus radials continued to help it achieve higher growth and maintain its leadership position in the truck/bus radials, said Raghupati Singhania, chairman and managing director of JK Tyre and Industries.
Shares in JK Tyre ended 15.88 per cent higher at Rs 121.50 apiece, outperforming the broader Nifty, which closed up 0.46 per cent.
(With agency inputs)
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
