Goodyear India posts ₹43-crore PAT in Q4
May 27, 2021
Higher volumes, increased factory utilisation and cost efficiencies boost performance
Goodyear India Ltd reported a significant growth in profit after tax at ₹43 crore for the quarter ended March 31, compared to ₹13 crore a year ago.
The improvement was driven by higher volumes, increased factory utilisation and cost efficiencies, according to a company statement.
Revenue from operations stood at ₹569 crore as against ₹375 crore. The increase was driven by robust farm demand, distribution expansion initiatives in consumer replacement business and base effect of Covid in March 2020.
For the year ended March 31, 2021, the company achieved its highest ever PAT in its history. The PAT was ₹136 crore compared to ₹89 crore in FY20, an increase of 53 per cent. Its revenue from operations for FY21 stood at ₹1,792 crore (₹1,746 crore).