ERJ staff report (DS)
Kolkata, India - JK Tyre reported a net loss in the three months to 31 December 2011, despite seeing revenues up by 21 percent and bringing its new plant on stream. Exceptional effects aside, operating profit was equivalent to the figure from a year ago, but interests costs were significantly higher, and currency effects took the company to a net loss of Rs 213 million (euro 3.23 million) in the quarter, compared with a profit of Rs 91.4 million a year ago.
The company said net sales for the quarter amounted to Rs 14180 million (euro 215 million), up from Rs 11 790 million a year earlier. Operating profits were Rs 463 million, up from Rs 438 million a year ago. In the nine months, operating profit reached 40 339 million, up from Rs 33 356 million a year earlier.
The company said its new tyre plant in Chennai came on stream in the quarter and the truck radial unit at Mysore reached full production.
This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.
Press release from JK Tyre