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.

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