JK Tyres Q1 operating profits fall on level sales

ERJ staff report (DS)

Kolkata, India -- JK Tyre & Industries has reported higher operating profits on level sales for the three months ended 31 March 2009. Net profit fell by just under half.

JK said net sales for the three months amounted to Rs 8542 million (euro 129.4 million) slightly higher than the same period a year ago (Rs 8338 million). Operating profits fell to Rs 523.7 million (euro 7.93 million) from Rs 622.2 million a year ago.

Net profit fell to Rs 136.4 million from Rs 230.2 million in the same period last year.

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Press release from JK Tyre