Left Menu
Development News Edition

JK Tyre and Industries reports 78 pct drop in consolidated net profit in Q4 FY19

Devdiscourse News Desk | New Delhi | Updated: 17-05-2019 17:01 IST | Created: 17-05-2019 12:23 IST
JK Tyre and Industries reports 78 pct drop in consolidated net profit in Q4 FY19
On the NSE, shares declined 5.54 per cent to Rs 74.90 -- their 52-week low. The company's earnings came in post-market hours Thursday. Image Credit: Pixabay

Shares of JK Tyre & Industries Limited Friday dropped 5.5 per cent after the company reported a 78.81 per cent decline in consolidated net profit for the quarter ended March 2019. The scrip tumbled 5.24 per cent to hit its one-year low of Rs 75 on the BSE. On the NSE, shares declined 5.54 per cent to Rs 74.90 -- their 52-week low. The company's earnings came in post-market hours Thursday.

JK Tyre & Industries Thursday reported a 78.81 per cent decline in consolidated net profit at Rs 33.66 crore for the quarter ended March 2019 due to high raw material costs and expenses. The company had posted a consolidated net profit of Rs 158.87 crore in the year-ago period, JK Tyre said in a regulatory filing.

Consolidated revenue from operations for the quarter under review stood at Rs 2,705.89 crore as against Rs 2,283.97 crore in the same period of 2017-18. The company said the cost of raw materials consumed was higher at Rs 1,436.82 crore as compared to Rs 1,420.08 crore. Total expenses were also higher at Rs 2,665.91 crore as compared to Rs 2,146.54 crore.


TRENDING

OPINION / BLOG / INTERVIEW

‘Discounted Deaths’ and COVID 19: Anthropology of Death and Emotions

Death is a social event rather than the mere cessation of biological functions. As seen by anthropologists, death is not just physical but intensely social, cultural, and political....

Indigenous knowledge of communities a must for maximizing impact of community work

Generally, it has been observed that the majority of the academicians in higher education institutions neglect the wisdom of community people and throw their weight around thinking that they know everything and the community knows nothing. ...

In rebuking FBR, Pakistan’s courts take a stand for public health

The system, if implemented effectively, will allow Pakistans revenue service to combat the illicit trade in tobacco products and potentially add hundreds of millions of dollars to the states budget each year. ...

Dissecting how COVID-19 is catalyzing the trajectory of New World Order

The ensuing pandemic of COVID-19 has hit the globalization in two ways firstly, shrinking the importance of globalization as an economic force by curtailing mobility through worldwide lockdowns, and secondly, rejuvenating the idea of indig...

Videos

Latest News

Vadodara's Sayaji Baug Zoo makes arrangements for inmates to beat the heat

As the mercury soars and heatwave intensifies, the Sayaji Baug Zoo at Vadodara has made arrangements for the inmates to beat the heat. Zoo curator Dr Pratyush Patankar has said that water is being sprayed in and around cages of animals two ...

Kyrgyzstan Ambassador meets Kyrgyz nationals lodged in Saharanpur jail

Kyrgyzstans Ambassador to India, Asein Isaev, met 21 Kyrgyz nationals lodged at Saharanpur jail on Friday and expressed satisfaction over the arrangements for the inmates here. The Ambassador expressed his satisfaction over the arrangements...

Protests flare across America, arrest of Minneapolis police officer fails to appease

The white former Minneapolis police officer shown in video footage using his knee to pin an unarmed black mans neck to the street was charged with murder on Friday in the mans death, an incident that has unleashed four nights of violent pro...

Children with baffling syndrome linked to COVID-19 may be experiencing deadly 'cytokine storm'

Children, aged between 5 to 13 years, who are showing up mysterious syndromes, such as fevers, rashes and strange blood readings, post the coronavirus surge in the United States, may have been experiencing a cytokine storm-- a condition whe...

Give Feedback