💨 Abstract

Indian tyre manufacturer CEAT reported a larger-than-expected 46.5% drop in Q3 profit due to higher rubber costs, despite strong demand for replacement tyres. Revenue rose 11.4% to INR 33 billion, but total expenses grew about 16%. The company partially passed on the increased raw material costs to customers.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖