Tyre maker JK Tyre & Industries Ltd on Tuesday (February 6) reported a 236.89% year-on-year (YoY) jump in net profit at ₹220.9 crore for the third quarter that ended December 31, 2023.
In the corresponding quarter last year, JK Tyre & Industries posted a net profit of ₹65.6 crore, the company said in a regulatory filing. The company's revenue from operations increased 2.1% to ₹3,687.7 crore as against ₹3,612.9 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA jumped 62.2% to ₹550.2 crore in the third quarter of this fiscal over ₹339.3 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 14.9% in the reporting quarter as compared to 9.4% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The company's net debt stood at ₹3,456 crore, registering a 24% reduction from the levels recorded in March 2023. The board has also declared an interim dividend of ₹1.00 per equity share of face value ₹2 each fully paid up (50%), for the financial year 2023–24.
The record date for the purpose of payment of the interim dividend is February 15, 2024. The said interim dividend would be paid to all equity shareholders of the company on February 27, 2024.
Shares of JK Tyre & Industries Ltd ended at ₹518.85, down by ₹13.35, or 2.51% on the BSE.
(Edited by : Ajay Vaishnav)
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