Profits at Sri Lanka's Kelani Tyres, a joint venture with India's CEAT rose 43 percent to 187 million rupees in the September 2013 quarter from a year earlier, helped by stable costs, interim accounts showed.
The firm reported earnings of 2.33 rupees per share for the quarter. In the six months to September the group reported earnings of 4.18 rupees per share on total profits of 336 million rupees up from 211 million rupees a year earlier.
The firm said revenues rose 9 percent to 1.4 billion rupees in the September quarter from a year earlier with costs rising at a slower 2.9 percent to 1.0 billion rupees helping gross profits expand 26 percent to 447 million rupees.
The group said sales rose to 4,137 metric tonnes in the September quarter from 3,837 a year earlier.
Sri Lanka has upped tariff protection for the tyre industry.
Kelani Tyres Profit rose 43%
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Oleh
Lanka Stocks
