JK Tyre and Industries swung to loss for the quarter ended September 2008. During the quarter, the company reported loss of Rs 323.70 million compared with a profit of Rs 243.90 million in the same quarter last year.

Net sales for the quarter rose 27.10% to Rs 8,744.80 million, while total income for the quarter rose 26.73% to Rs 8,751.40 million, when compared with the prior year period.

The company posted earnings of Rs 10.05 a share during the quarter, registering 26.89% growth over prior year period.

During the quarter, Interest cost increased 6.51% to Rs 260.00 million while depreciation cost fell 2.18% to Rs 188.20 million over previous year period.

The company has changed its accounting year from October-September to April-March. Accordingly, the current financial year shall be for a period of eighteen months i.e. from Oct. 01, 2007 to Mar. 31, 2009.

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