JK TYRE & IND Announces Quarterly Results (1QFY20); Net Profit Down 75.6%

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JK TYRE & IND Announces Quarterly Results (1QFY20); Net Profit Down 75.6%
Mon, 5 Aug

JK TYRE & IND has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

JK TYRE & IND Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m24,39527,05925,754-4.8%5.6%
Other incomeRs m6610161-39.6%-7.5%
TurnoverRs m24,46127,16025,815-5.0%5.5%
ExpensesRs m21,14024,44923,358-4.5%10.5%
Gross profitRs m2,9872,5822,443-5.4%-18.2%
DepreciationRs m77479691214.5%17.8%
InterestRs m1,2101,4151,385-2.1%14.5%
Profit before taxRs m1,069472207-56.1%-80.7%
TaxRs m42711350-55.6%-88.3%
Profit after taxRs m642359157-56.3%-75.6%
Gross profit margin%12.29.59.5
Effective tax rate%39.923.924.2
Net profit margin%2.61.30.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 5.6% on a year-on-year (YoY) basis. The expenses were up by 10.5% YoY during the same period.
  • The company's operating profit declined by 18.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.5% in 1QFY20 as against 12.2% in 1QFY19.
  • Depreciation charges increased by 17.8% and finance costs increased by 14.5% YoY, respectively.
  • Other income declined by 7.5% YoY during the quarter.
  • Net profit for the quarter declined by 75.6% YoY. Net profit margins during the quarter declined from 2.6% in 1QFY19 to 0.6% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 4.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 4.5% QoQ during the same period.
  • The company's operating profit declined by 5.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.5% in 1QFY20 as against 9.5% in 4QFY19.
  • Net profit for the quarter declined by 56.3% QoQ, while net profit margins declined from 1.3% in 4QFY19 to 0.6% in 1QFY20.

To see how JK TYRE & IND has performed over the last eight quarters,please visit here.

JK TYRE & IND Share Price Performance

Over the last one year,JK TYRE & IND share price has moved down from Rs 132.7 to Rs 56.9, registering a Loss of Rs 75.8 or around 57.1%.

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations

At the current price of Rs 56.9, the price to earnings (P/E) ratio of JK TYRE & IND stands at 10.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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Related Views on News

JK TYRE & IND Announces Quarterly Results (2QFY21); Net Profit Down 35.4% (Quarterly Result Update)

Oct 23, 2020 | Updated on Oct 23, 2020

For the quarter ended September 2020, JK TYRE & IND has posted a net profit of Rs 1 bn (down 35.4% YoY). Sales on the other hand came in at Rs 23 bn (up 5.6% YoY). Read on for a complete analysis of JK TYRE & IND's quarterly results.

JK TYRE & IND Announces Quarterly Results (2QFY20); Net Profit Up 249.1% (Quarterly Result Update)

Nov 5, 2019 | Updated on Nov 5, 2019

For the quarter ended September 2019, JK TYRE & IND has posted a net profit of Rs 2 bn (up 249.1% YoY). Sales on the other hand came in at Rs 22 bn (down 13.6% YoY). Read on for a complete analysis of JK TYRE & IND's quarterly results.

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