ERJ staff report (TP)
Mumbai, India – Anant Goenka, MD of Ceat, told CNBC-TV18 (Indian business news channel) that the company’s improved performance is thanks to profitable segments, the stability of the price of rubber and other input costs.
Profit was increased due to reduced raw material prices and the shift of the company’s product mix, such as the non-truck area which picked up.
Rubber prices came down from Rs 190 (€2.24) per kg to Rs 160 (€1.88) per kg which helped Ceat’s input costs.
Ceat is a tire manufacturing company based in Mumbai, but was founded in 1958 in Italy.
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