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Tyre prices may increase in Q3 to offset input cost rise
Business Standard|November 16, 2024
India's leading tyre manufacturers are likely to hike prices for a third consecutive quarter, aiming to offset the persistent rise in the cost of raw materials, particularly natural rubber.
- ANJALI SINGH
Tyre prices may increase in Q3 to offset input cost rise

With inflationary pressures driving up input costs, CEAT and JK Tyre have seen their profit margins shrink despite steady revenue growth, leading them to pass some of the cost burden onto consumers.

CEAT recently raised prices by 3-4 per cent in its passenger and commercial tyre segments and has plans for further hikes in the current quarter. In its latest earnings report, the company highlighted a record second quarter (Q2) revenue of ₹3,300 crore, marking an 8.2 per cent increase year-on-year.

However, its operating margin declined from 12.47 per cent in the first quarter of the financial year 2025 (Q1FY25) to 11.71 per cent in Q2FY25 due to rising input costs.

This story is from the November 16, 2024 edition of Business Standard.

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Tyre prices may increase in Q3 to offset input cost rise
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This story is from the November 16, 2024 edition of Business Standard.

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