While net sales increased by a respectable but unremarkable 8.5% over the same three months of 2006, to Rs5.83 billion (£72.65 million), operating profit more than doubled during the period. For the quarter, Ceat achieved an operating profit of Rs 622.9 million (£7.76 million), up from Rs 307.3 million (£3.82 million) a year earlier. Pre-tax profit showed an even more respectable increase, rising to Rs405.6 million (£5.1 million), a 470.5% increase on the September 2006 figure of Rs71.1 million (£885,600).
Results for the same quarter did not yield such positive news at Goodyear India, however. The manufacturer’s total income declined by 7.4% for the quarter to Rs2.28 billion (£28.46 million). Operating profit too was slightly lower than in the three months to the end of September 2006, dropping 3.9% to Rs203.3 million (£2.53 million). Of greater concern to investors was Goodyear India’s net profit, which slumped by 31.2% to Rs105.6 million (£1.31 million) from Rs153.5 million (£1.91 million) a year earlier. (Tyres & Accessories/Staffordshire, U.K.)