JK Tyre's Shares Soar 10% as Net Profit Jumps 54%

Shares of JK Tyre & Industries surged over 10% after announcing a 54% increase in consolidated net profit for Q4 2024, totaling Rs 172 crore. The company's stock hit Rs 446.75 on BSE and Rs 447.20 on NSE, driven by record sales and a significant profit increase for the fiscal year.

Shares of JK Tyre & Industries on Wednesday zoomed over 10 per cent after the company's consolidated net profit increased 54 per cent for the fourth quarter ended March 31, 2024.

The company's stock climbed 10.49 per cent to Rs 446.75 on the BSE.

At the NSE, it rallied 10.55 per cent to Rs 447.20 apiece.

JK Tyre & Industries on Tuesday said its consolidated net profit increased 54 per cent to Rs 172 crore for the fourth quarter ended March 31, 2024, on account of higher sales.

The tyre maker had reported a net profit of Rs 112 crore in the year-ago period.

Total income rose to Rs 3,714 crore for the fourth quarter as compared with Rs 3,645 crore in the year-ago period, JK Tyre said in a statement.

For the full-year ended March 31, 2024, the tyre maker posted a net profit of Rs 811 crore, a three-fold jump, as against Rs 265 crore in FY23.

Total income rose to Rs 15,046 crore for the last fiscal as compared with Rs 14,681 crore in FY23.

The company said it achieved highest-ever sales and profits during FY24.