JK Tyre share price rises 3% on robust Q4 results; board recommends dividend

JK Tyre share price rises 3% on robust Q4 results; board recommends dividend

JK Tyre and Industries share price gained 3 percent intraday on May 20 after the company declared its March quarter results.

The tyre maker reported a quarterly net profit of Rs. 137.18 crore in March 2021 up 1787.33 percent from Rs 8.13 crore in March 2020. Its net sales came in at Rs 2,022.82 crore in March 2021 up 49.68 percent from Rs 1,351.42 crore in March 2020.

The company’s EBITDA stands at Rs 315.51 crore in March 2021 up 120.17 percent from Rs. 143.30 crore in March 2020.

The stock was trading at Rs 127.40, up Rs 3.80, or 3.07 percent at 11:08 hours. It has touched an intraday high of Rs 131.25 and an intraday low of Rs 126.25.

JK Tyre posted a pre-tax profit of Rs 280.56 crore in Q4 FY21 compared with pre-tax loss of Rs 82.40 crore in Q4 FY20. The company saw a margin expansion of 400 basis points in Q4 FY21 over Q4 FY20.

The Board at its meeting recommended a dividend of Rs 2 per equity share of Rs 2 each (100 percent) for the financial year ended March 31, 2021.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: price above short, medium and long term moving averages. FII / FPI or institutions are increasing their shareholding.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

Source: https://www.moneycontrol.com/news/business/stocks/jk-tyre-share-price-rises-3-on-robust-q4-results-board-recommends-dividend-6917041.html

Nysha Varshney

Naysha Varshney is an editor at Economy News. She covering finance and personal finance-related news.

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