Published Mon, Aug 11, 2025 · 04:34 PM
[NEW DELHI] Tyre maker Goodyear India reported a 43.6 per cent fall in first-quarter profit on Monday (Aug 11), hurt by dampened automobile demand.
The net profit of US-based Goodyear Tire’s Indian unit fell to 141.1 million rupees (S$2.06 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 per cent in the quarter ending June, compared with 16.4 per cent growth in the same period last year, according to Society of Indian Automobile Manufacturers data.
The tyremaker’s revenue from operations fell 5.1 per cent 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 per cent 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 per cent in the quarter ended June 30. REUTERS
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