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JK Tyre deflates after weak Q1 result
JK Tyre Industries was down 10.58% to Rs 63.80 at 9:29 IST on the BSE after the company reported 73.63% slide in consolidated net profit to Rs 16.91 crore on 5.79% rise in total income to Rs 2587.60 crore in Q1 June 2019 over Q1 June 2018.
The result was announced after market hours yesterday, 1 August 2019.
Meanwhile, the S&P BSE Sensex was down by 306.19 points or 0.83% to 36,712.19.
On the BSE, 72000 shares were traded in the counter so far compared with average daily volumes of 36000 shares in the past two weeks. The stock had hit a high of Rs 67.65 so far during the day. The stock hit a 52-week low of Rs 60 in intraday trade today, 2 August 2019.
JK Tyre & Industries is a leading tyre manufacturer with a wide range of products catering to diverse business segments in the automobile industry.
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