JK Tyre & Industries is a leading four-wheeler tyre manufacturer in India, witnessed a rise in share price on Tuesday it announced a sharp rise in consolidated net profit for the quarter ended December 2014.

During the quarter, the profit of the company rose 55.53% to Rs 918.10 million from Rs 590.30 million in the same quarter previous year.

Net sales for the quarter rose 7.18% to Rs 18,257.60 million, compared with Rs 17,034 million for the prior year period.

Shares of the company are trading at Rs 120.45, up Rs 15.4, or 14.66% at the Bombay Stock Exchange (BSE) on Tuesday at 11:25 a.m.

The scrip has touched an intra-day high of Rs 121.90 and low of Rs 111.75. The total volume of shares traded at the BSE is 1,072,410.