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- JK TYRE & IND Announces Quarterly Results (2QFY20); Net Profit Up 249.1%
JK TYRE & IND Announces Quarterly Results (2QFY20); Net Profit Up 249.1%
Tue, 5 Nov
JK TYRE & IND has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:
JK TYRE & IND Quarterly Financials
| No. of Mths Qtr. Ending | 3 Sep-18* | 3 Jun-19* | 3 Sep-19* | QoQ Change | YoY Change | |
|---|---|---|---|---|---|---|
| Net Sales | Rs m | 24,938 | 25,754 | 21,550 | -16.3% | -13.6% |
| Other income | Rs m | 545 | 61 | 67 | 10.4% | -87.7% |
| Turnover | Rs m | 25,482 | 25,815 | 21,617 | -16.3% | -15.2% |
| Expenses | Rs m | 22,314 | 23,358 | 18,586 | -20.4% | -16.7% |
| Gross profit | Rs m | 2,204 | 2,443 | 2,461 | 0.7% | 11.6% |
| Depreciation | Rs m | 791 | 912 | 916 | 0.5% | 15.8% |
| Interest | Rs m | 1,276 | 1,385 | 1,396 | 0.7% | 9.4% |
| Profit before tax | Rs m | 682 | 207 | 216 | 4.5% | -68.3% |
| Tax | Rs m | 199 | 50 | -1,470 | -3034.1% | -837.6% |
| Profit after tax | Rs m | 483 | 157 | 1,686 | 975.4% | 249.1% |
| Gross profit margin | % | 8.8 | 9.5 | 11.4 | ||
| Effective tax rate | % | 29.2 | 24.2 | -679.6 | ||
| Net profit margin | % | 1.9 | 0.6 | 7.8 |
Interim results exclude extraordinary / exceptional items
Year-on-Year Performance:
- The company's operating income during the quarter fell 13.6% on a year-on-year (YoY) basis. The expenses were down by 16.7% YoY during the same period.
- The company's operating profit increased by 11.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.4% in 2QFY20 as against 8.8% in 2QFY19.
- Depreciation charges increased by 15.8% and finance costs increased by 9.4% YoY, respectively.
- Other income declined by 87.7% YoY during the quarter.
- Net profit for the quarter increased by 249.1% YoY. Net profit margins during the quarter increased from 1.9% in 2QFY19 to 7.8% in 2QFY20.
Quarter-on-Quarter Performance:
- The company's operating income during the quarter fell 16.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 20.4% QoQ during the same period.
- The company's operating profit increased by 0.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.4% in 2QFY20 as against 9.5% in 1QFY19.
- Net profit for the quarter increased by 975.4% QoQ, while net profit margins increased from 0.6% in 1QFY19 to 7.8% in 2QFY20.
To see how JK TYRE & IND has performed over the last eight quarters,please visit here.
Urgent New Alert: About Coming Once-in-a-generation Wealth Shift
JK TYRE & IND Share Price Performance
Over the last one year,JK TYRE & IND share price has moved down from Rs 108.2 to Rs 73.0, registering a Loss of Rs 35.2 or around 32.5%.
Overall, the S&P BSE SENSEX is up 15.4% over the year.
Current Valuations
At the current price of Rs 73.0, the price to earnings (P/E) ratio of JK TYRE & IND stands at 6.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.
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, 2020For 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 (1QFY20); Net Profit Down 75.6% (Quarterly Result Update)
Aug 5, 2019 | Updated on Aug 5, 2019For the quarter ended June 2019, JK TYRE & IND has posted a net profit of Rs 157 m (down 75.6% YoY). Sales on the other hand came in at Rs 26 bn (up 5.6% YoY). Read on for a complete analysis of JK TYRE & IND's quarterly results.
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