CEAT made a loss in Q3, despite stronger sales

ERJ staff report (DS)

Mumbai, India -- Indian tyre maker CEAT said net sales for the 3 months ended 30 June, were Rs 6574 million (Euro 98 million), up from Rs 5364 million a year ago. However, the copany made a pre-tax loss of Rs 109 million, compared with a profit of Rs462 million in the same period a year ago. Interest charges were unchanged at Rs 140 million in the period

The company released a statement saying, "profitability during the quarter has been severally impacted due to a sharp increase in cost of all key inputs, particularly natural rubber, synthetic rubber and carbon black. The Company has taken necessary steps to mitigate the adverse effect of the raw material cost increase."

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