Ceat Oct-Dec net slumps; sees margin pressure ahead

Newswire

MUMBAI, Jan 25 (Reuters) - Ceat Ltd , India's fourth largest tyre maker, reported a 79 percent fall in Oct-Dec profit hurt by soaring raw material costs, especially that of rubber, and expects the pressure to continue, a senior official said. "It has been a little difficult in the past three months to pass on the price increase," Anant Goenka, deputy managing director, told business news channel CNBC-TV18. Rubber prices make up over 40 percent of the cost of a tyre. In Oct-Dec, local ...

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