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 ChangeYoY Change
Net SalesRs m24,93825,75421,550-16.3%-13.6%
Other incomeRs m545616710.4%-87.7%
TurnoverRs m25,48225,81521,617-16.3%-15.2%
ExpensesRs m22,31423,35818,586-20.4%-16.7%
Gross profitRs m2,2042,4432,4610.7%11.6%
DepreciationRs m7919129160.5%15.8%
InterestRs m1,2761,3851,3960.7%9.4%
Profit before taxRs m6822072164.5%-68.3%
TaxRs m19950-1,470-3034.1%-837.6%
Profit after taxRs m4831571,686975.4%249.1%
Gross profit margin%8.89.511.4
Effective tax rate%29.224.2-679.6
Net profit margin%1.90.67.8
* 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 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.

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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 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.