Govind profits up 248%
India’s Govind Rubber Ltd has reported net sales of Rs 782.3 million (£8.9 million) for the three months to 30 June, a 35.6 per cent year-on-year increase. Net profit, at Rs 10.1 million (£), was up 248 per cent on the corresponding quarter of 2011. The tyre maker recently announced an Rs 8.5 billion (£115,500) expansion project at its Alwar plant in India, and the company also intends to set up a new greenfield facility in Dahej. According to company chairman and managing director Vinod Poddar, the new facility will have a daily capacity of 225 tonnes.
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