JK Tyre sees profit double in three months to June

ERJ staff report (DS)

Kolkata, India -- JK Tyre said its net profit for the three months ended 30 June 2009 were Rs407.5 million (euro 5.94 million), just over double the figure of Rs 202.4 million from a year ago. Sales (net of duty) were by six percent, at Rs 8977 million, (2008: Rs 8491 million)

Dr. Raghupati Singhania, managing director said, ““Radialisation of the commercial tyre segment is catching up at a faster pace. The growth momentum shall continue in the coming months following the recent completion of truck radial expansion project of doubling the capacity to 800 000 tyres/year involving a capital expenditure of Rs.3150 million.”.

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