Next Article
JK Tyre's profits fell by nearly 22% in Q1 FY24
JK Tyre just shared its Q1 FY24 results: profits slipped by nearly 22% to ₹165 crore compared to last year, but revenue actually grew 6% to ₹3,869 crore.
So, while they're earning more overall, they're keeping less of it as profit.
Operating profits dropped about 20%
Operating profits (EBITDA) dropped about 20%, and margins tightened from 13.8% to 10.4%.
Even so, investors seemed upbeat—JK Tyre's stock price nudged up by 1.3% after the news.
Still, zooming out shows a tougher road this year: the stock is down about 15% since January.