JK Tyre returns to profit, despite strike

ERJ staff report (DS)

Mumbai, India — JK Tyre & Industries reported level sales for the three months ended 31 December 2009, but pre-tax profits bounced back strongly after a loss-making quarter a year ago. However, the results were substantially affected by a sit-in strike by workers in one of the company’s plants located in Rajasthan.

Net sales for the quarter reached Rs 7987 million (Euro 122 million). Pre-tax profit reached Rs 537 million (euro 8.22 million) compared to a loss of Rs 368 a year ago.

To read more,please login or register below.

Register
This is the first step to more free
content, user offers, subscriptions
and more.
Login
Log in here using the Email Address
and Password you signed up with