JK Tyre Reports September Quarter Losses

India’s JK Tyre showed a loss of 323.70 rupees (3.97 million pounds sterling; 1.00 GBP = 81.58 INR) for the quarter ending September 2008, the company has reported. The same quarter in 2007 yielded a profit of 243.9 million rupees. Meanwhile, net sales for the quarter rose 27.1 per cent on the same quarter last year, rising from 6.88 billion to 8.74 billion rupees. Shares in the company earned 10.05 rupees each, meaning that there was a growth of 26.89 per cent on the previous year, when earnings per share were at 7.92 rupees.