JK Tyre and Industries Ltd’s shares zoomed 9% on the National Stock Exchange (NSE) on the back of a strong operating performance for the September (Q2 FY20) quarter.

Indeed, the consolidated Ebitda (earnings before interest, tax, depreciation and amortization) margin at 13.8% was the highlight of the quarter. A jump of 330 basis points (bps) year-on-year (y-o-y) was better than expected, considering that the auto industry has been reeling under a slowdown. One basis point is one hundredth of a percentage point.

Even the company’s media release reiterated the pain in the sector stating that “production for both passenger and commercial vehicles has been cut drastically during the quarter".

JK Tyre and Industries Ltd’s shares zoomed 9% on the National Stock Exchange (NSE) on the back of a strong operating performance for the September (Q2 FY20) quarter.

Indeed, the consolidated Ebitda (earnings before interest, tax, depreciation and amortization) margin at 13.8% was the highlight of the quarter. A jump of 330 basis points (bps) year-on-year (y-o-y) was better than expected, considering that the auto industry has been reeling under a slowdown. One basis point is one hundredth of a percentage point.

Even the company’s media release reiterated the pain in the sector stating that “production for both passenger and commercial vehicles has been cut drastically during the quarter".