Net profit of JK Tyre & Industries declined 73.63% to Rs 16.91 crore in the quarter ended June 2019 as against Rs 64.13 crore during the previous quarter ended June 2018. Sales rose 5.57% to Rs 2575.39 crore in the quarter ended June 2019 as against Rs 2439.52 crore during the previous quarter ended June 2018.

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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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JK Tyre & Industries will hold a meeting of the Board of Directors of the Company on 1 August 2019.

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JK Tyre & Industries announced that CARE has revised the credit ratings for various debt facilities of the company as under -

Long term bank facilities - CARE A; Negative (Revised from CARE A+; Negative)

Short term bank facilities - CARE A1 (Revised from CARE A1+)

Long term / short term bank facilities - CARE A; Negative / CARE A1 (Revised from CARE A+;Negative/ CARE A1+)

Fixed Deposits - CARE A (FD); Negative / CARE A1 (FD) (Revised from CARE A+(FD); Negative / CARE A1+ (FD))

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