JK Tyre & Industries Ltd. announced its earnings for the April to June quarter on Friday, August 8.The company reported a net profit of ₹165.4 crore, a decline of 21.8% year-on-year, compared to ₹211.4 crore in the same quarter of the previous year.
Revenue from operations increased by 6.3% to ₹3,869 crore, as against ₹3,639 crore in the corresponding period last year.Earnings before interest, tax, depreciation, and amortisation (EBITDA) fell 19.5% to ₹402.7 crore from ₹500.4 crore in the year-ago quarter.
The EBITDA margin contracted to 10.4% from 13.8% in the same period of the previous year.
Following the earnings announcement, shares of JK Tyre & Industries Ltd. are trading 1.34% higher at ₹328.75. The stock has declined 15% on a year-to-date basis.
