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Goodyear India's first-quarter profit falls on weak auto demand
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Goodyear India's first-quarter profit falls on weak auto demand
Aug 11, 2025 1:22 AM

Aug 11 (Reuters) - Tyremaker Goodyear India

reported a 43.6% fall in first-quarter profit on Monday, hurt by

dampened automobile demand.

The net profit of U.S.-based Goodyear Tire's Indian

unit fell to 141.1 million rupees ($1.61 million) for the three

months ended June 30, from 250.3 million rupees a year ago.

Goodyear India, which sells tyres, tubes and flaps, depends

on auto sales for a large part of its revenue.

Total vehicle sales in the country fell 5.1% in the quarter

ending June, compared to 16.4% growth in the same period last

year, according to Society of Indian Automobile Manufacturers

data.

The tyremaker's revenue from operations fell 5.1% to 6.56

billion rupees.

The company said that increasing adoption of larger rim

sizes in vehicles is expected to drive robust sales in the

replacement business this year in its latest annual report.

Total expenses fell 3% to 6.42 billion rupees, but not

enough to boost the bottom line.

Rival CEAT reported a fall in June-quarter profit,

while MRF is yet to report its quarterly results.

Goodyear India's shares are flat on the day and rose 16.8%

in the quarter ended June 30.

($1 = 87.6212 Indian rupees)

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