Goodyear India Releases Q4, Annual Figures

Fourth quarter figures for Goodyear India Limited have been released, and show a 24.58 per cent rise in profits compared with the same period the previous year. During the quarter that ended March 31, 2008 a profit of Rs 126.20 million (£1.60 million) was recorded on the back of sales totalling Rs 2,277 million (£28.8 million), an increase of 14.03 per cent on the previous year. Annual profit, in contrast, declined 10.8 per cent compared with that of the year before, to Rs 451.2 million (£5.71 million). This decrease occurred in spite of higher annual net sales of Rs 9,175.1 million (£116.2 million), an increase of 6.8 per cent. Annual EBIT, at Rs 5549 million (£70.3 million), showed an increase of 16.7 per cent.

Goodyear India is listed on the Bombay Stock Exchange, and 74 per cent of company shares are held by Goodyear Tire & Rubber of the US. The company operates two manufacturing facilities in India.