JK Tyre Reports 1.369 billion rupees Operating Profit
JK Tyre & Industries Ltd. (JK Tyre) reported quarterly operating profits (EBITDA) of 1.369 billion rupees (£17.769 million; 19.670 million euros; US$29.1 million) from sales of 9.38 billion rupees, publishing the details on 30 October. First half (April to September 2009) results show the company achieved post tax profits of 1 billion rupees against net sales of 18 billion rupees.
Vice chairman and managing director, Dr. Raghupati Singhania commented: “JK Tyre has recorded an exceptional performance in quarter tow of the current year on account of all-round costs management and better operating efficiencies. As a result, Operating profit has improved to 14.6 per cent compared to -0.6 per cent for the same period last year.”
Company information added that, following the company’s 100 per cent acquisition of Tornel, Mexico, Tornel’s operations have “turned profitable from the beginning of this year.”
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