Q4 Results: JK Tyre, Indiabulls Housing Finance, JK Lakshmi Cement
1. JK Tyre Q4 results: Profit rises to Rs 195 crore
On May 20, JK Tyre and Industries share price gained 3 percent after the March quarter result was announced.
The tyre maker reported a quarterly net profit of Rs. 137.18 crore in March 2021 up 1787.33 percent from Rs 8.13 crore in March 2020. Its net sales came in at Rs 2,022.82 crore in March 2021 up 49.68 percent from Rs 1,351.42 crore in March 2020.
JK Tyre posted a pre-tax profit of Rs 280.56 crore in Q4 FY21 compared with pre-tax loss of Rs 82.40 crore in Q4 FY20. The company saw a margin expansion of 400 basis points in Q4 FY21 over Q4 FY20.
The Board at its meeting recommended a dividend of Rs 2 per equity share of Rs 2 each (100 percent) for the financial year ended March 31, 2021.
2. Indiabulls Housing Finance Q4 results: Profit rises to Rs 276 crore
On 19 May, Mortgage financier Indiabulls Housing Finance reported a two-fold jump in its profit after tax to Rs 276 crore in the quarter ended March 2021.
"The quarter was very good. We have been focussing on asset quality, which is very robust. Overall, there has been an above 100 per cent increase in our profit from Rs 137 crore in Q4 FY20 to Rs 276 crore this year (Q4 FY21),” the company's Vice Chairman, managing director and CEO Gagan Banga said.
Overall, in FY21, it raised over Rs 34,000 crore through equity, bank lines, bonds and loan sell downs, the release said.
"In FY22, with our co-lending partnerships in place, especially the one with HDFC Ltd, we are now set to grow the retail loan book and grow profitability through our technology-leveraged, retail focused asset-light business model,” Banga said.
3. JK Lakshmi Cement Q4 results: Net profit rises to Rs 159 crore
On 20 May, JK Lakshmi Cement Ltd reported a 61.34 per cent increase in consolidated net profit to Rs 159.13 crore for the fourth quarter ended March 2021.
Revenue from operations rose 25.22 per cent to Rs 1,424.32 crore from Rs 1,137.47 crore in the year-ago quarter.
Total expenses were at Rs 1,207.01 crore in Q4 FY 2020-21, up 18.78 per cent from Rs 1,016.16 crore earlier. Revenue from operations was at Rs 4,727.44 crore, up 8.32 per cent as compared to Rs 4,364.07 crore in FY 2019-20.
"This performance was achieved during a pandemic period when we lost nearly 55 days of production and 40-45 days of sales. It is greatly satisfying and speaks greatly of the Team JKLC's passion and commitment," the company's Vice Chairman and Managing Director Vinita Singhania said.