Ceat posts Q1 net loss, hurt by soaring input costs

Newswire

MUMBAI, July 25 (Reuters) - Tyremaker Ceat Ltd posted a net loss for the April to June quarter against a net profit in the same period last year, hurt by a steep rise in raw material prices that it was unable to offset through price hikes. "The price increases we tried to have were totally inadequate to cover for the cost push," Managing Director Paras Chowdhary said over the telephone. Natural rubber prices have risen 40 percent to 132 rupees a kg in the January to June period. Rubber ...

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