CEAT Second-Quarter Profit Falls Nearly 40% as Rubber Prices Rise
CEAT reported consolidated net profit of 1.12 billion rupees for the three months ended September 30, down nearly 40% as rising raw material prices squeezed margins.
Indian tyre maker CEAT NSE:CEATLTD reported on Wednesday that quarterly net profit fell nearly 40%, with rising raw material prices squeezing margins. The Mumbai-based company recorded consolidated net profit of 1.12 billion rupees ($11.77 million) for the three months ended September 30, compared with…