JK Tyre shares fall 4 pc after Q4 earnings

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JK Tyre & Industries on Monday said it has come up with a marketing arm in the US to focus on sales, service and network expansion.
to focus on sales, service and network expansion in US.

New Delhi, Jun 16 (PTI) Shares of JK Tyre and Industries on Tuesday fell by 4 per cent after the company reported a consolidated net loss of Rs 52.78 crore for the fourth quarter ended on March 31, 2020.

The stock declined 4.08 per cent to close at Rs 61.15 on the BSE. During the day, it plunged 6.66 per cent to Rs 59.50.

On the NSE, it fell 4.15 per cent to settle at Rs 61.10.

JK Tyre and Industries on Monday reported a consolidated net loss of Rs 52.78 crore for the fourth quarter ended on March 31, 2020.

The company had posted a net profit of Rs 33.66 crore for January-March period of 2018-19.

Revenue from operations declined to Rs 1,794.76 crore for the fourth quarter as against Rs 2,703.71 crore in the same period of 2018-19, JK Tyre and Industries said in a regulatory filing.

For 2019-20 fiscal, the company reported a net profit of Rs 141.31 crore as compared with Rs 170.57 crore in 2018-19, it added.

Source:PTI

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