India's CEAT falls after quarterly profit slump
15/10/2026 05:10
BUZZ-India's CEAT falls after quarterly profit slump ** Shares of tyremaker CEAT CEAT.NS down 2.5% at 3,275 rupees, biggest pct fall since August 31, 2026
** Quarterly profit down 40%, weighed by rise in expenses
** West Asia crisis kept raw material costs high and did present challenges, but we responded with tighter cost controls, disciplined execution, co said
** Core margin narrowed to 9.5% in Q2 from 13.5% in year-ago period
** However, demand remained healthy with revenue up 26% y/y to 47.62 billion rupees
** In H2, co aims to deliver double-digit growth and roll out further price hikes
** YTD, shares down 13.5%
($1 = 94.9150 Indian rupees)
(Reporting by Saikeerthi in Bengaluru)
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