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

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JK TYRE & IND Announces Quarterly Results (2QFY21); Net Profit Down 35.4%
Fri, 23 Oct

JK TYRE & IND has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

JK TYRE & IND Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m21,55011,30822,748101.2%5.6%
Other incomeRs m677311758.7%73.6%
TurnoverRs m21,61711,38122,865100.9%5.8%
ExpensesRs m18,58611,34619,19869.2%3.3%
Gross profitRs m2,461-3673,75852.7%
DepreciationRs m916967965-0.2%5.4%
InterestRs m1,3961,3061,235-5.4%-11.5%
Profit before taxRs m216-2,5661,674673.9%
TaxRs m-1,470-544585
Profit after taxRs m1,686-2,0221,089-35.4%
Gross profit margin%11.4-3.216.5
Effective tax rate%-679.621.234.9
Net profit margin%7.8-17.84.8
* 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 3.3% YoY during the same period.
  • The company's operating profit increased by 52.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.5% in 2QFY21 as against 11.4% in 2QFY20.
  • Depreciation charges increased by 5.4% and finance costs declined by 11.5% YoY, respectively.
  • Other income increased by 73.6% YoY during the quarter.
  • Net profit for the quarter declined by 35.4% YoY. Net profit margins during the quarter declined from 7.8% in 2QFY20 to 4.8% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 101.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 69.2% QoQ during the same period.
  • The company's operating profit declined by 1124.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.5% in 2QFY21 as against 3.2% in 1QFY20.
  • Net profit for the quarter increased by 153.9% QoQ, while net profit margins increased from -17.8% in 1QFY20 to 4.8% in 2QFY21.

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

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JK TYRE & IND Share Price Performance

Over the last one year, JK TYRE & IND share price has moved down from Rs 66.1 to Rs 65.4, registering a Loss of Rs 0.7 or around 1.1%.

Overall, the S&P BSE SENSEX is up 4.5% over the year.

Current Valuations

At the current price of Rs 65.4, the price to book value (P/BV) ratio of JK TYRE & IND stands at 0.8 times.

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Related Views on News

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.

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

Aug 5, 2019 | Updated on Aug 5, 2019

For 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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