KOLKATA, India (Aug. 16, 2013) — JK Tyre & Industries Ltd. reported double-digit gains in operating and net earnings for the quarter ended June 30 on 4-percent higher sales.
JK Tyre's first quarter operating income rose 42.2 percent to $25.5 million, or 9.5 percent of the $266.9 millon in sales recorded. Net income jumped 39.8 percent to $6.2 million.
JK Tyre did not comment on the results. The results continue a string of financial improvement at the Kolkota-based company, which reversed a net loss in the fiscal year ended March 31, 2011, to earnings of $37.4 million last year.