JK Tyre Industries skid 3.14% to Rs 61.75 after consolidated net loss stood at Rs 46.95 crore in Q4 March 2020 compared with a net profit of Rs 35.88 crore in Q4 March 2019.
Consolidated net sales dropped 33.6% to Rs 1,794.76 crore in Q4 March 2020 as against Rs 2,703.71 crore in Q4 March 2019. Consolidated pre-tax loss stood at Rs 82.40 crore in Q4 March 2020 as against pre-tax profit of Rs 47.16 crore in Q4 March 2019.
During the quarter, the company incurred exceptional loss of Rs 61.14 crore, which includes unlavourable foreign exchange fIuctuation Rs 60.52 crore and VRS of Rs 0.62 crore. The result was announced post trading hours yesterday, 15 June 2020.
JK Tyre Industries manufactures a wide range of automobile tires, tubes and flaps. The company also operates a chain of tire outlets across the country which sell the company's tires in addition to providing a range of automotive services, including wheel alignment and tire changing.
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