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Goodyear India Q1 net profit down by 12pct

Auto News - Published on Fri, 10 Aug 2018

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Economic times reported that, Tyre maker Goodyear India Ltd reported a 12.8 % decline in its standalone net profit at INR 24.78 crore for the quarter ended June 30 2018, on account of higher expenses. In the April-June quarter of the last fiscal, Goodyear India had registered a net profit of INR 28.45 crore, as per the regulatory filing.

Company’s net revenue from the operations, however, rose to 5.1 % at INR 534.63 crore during Q1 2018 compared to INR 508.49 crore in the same period a year ago.

Total expenses increased to INR 505.33 crore during the quarter as against INR 472.06 crore in the year ago quarter.

Basic earnings per share during the quarter stood at INR 10.74 compared to 12.33 % in the April-June quarter of the financial year 2016-17.

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Posted By : Joykumar Irom on Fri, 10 Aug 2018
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