Tyre Makers' Profits Fall as Rubber Costs Rise
JK Tyres and Ceat both reported weaker September-quarter results, with profit down 73% and 40% from a year earlier. Costlier rubber has squeezed margins, and the firms are considering more price hikes.
Context
Context: Natural rubber is a main raw material for tyres, so changes in its price hit tyre makers directly. Higher tyre prices can also raise costs for vehicle owners and transport companies.
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