Ceat proft dips 75 per cent

Ceat, India’s fourth largest tyre maker by tonnage, had a 75 per cent fall in net profit for the quarter ended September 30, at Rs 15.3 crore as compared to Rs 61.5 crore in the same period last year. Anant Goenka, deputy managing director, said, “Raw material prices have gone up by 40 per cent as compared to last year, with a 100 per cent increase in price of rubber.” The company raised tyre prices during the quarter, but it wasn’t enough.