Allaying fears that a flood of cheap Chinese tyres, which have reportedly hit a record-high market share of 18-20 percent, may disrupt the Indian market, CEAT CFO A Subba Rao said he didn‘t foresee it to be a serious threat.
Huge imports are keeping domestic rubber prices soft and lower cost of raw materials is helping boost the company‘s operating profit margins, Subba Rao says
The Tyre major Ceat posted nearly three-fold rise in consolidated net profit at Rs 66.95 crore for the third quarter ended December 31, 2013. The company had posted a net profit of Rs 22.43 crore for the same period of previous fiscal.
GMR Infrastructure today reported a consolidated net loss of Rs 94 crore for the quarter ended June 30, 2012, mainly on account of losses at DIAL and one-time tax asset reversal at GVPGL (Vemagiri power plant).