Goodyear India Limited Reports First Quarter Fiscal 2022 Results

The Board of Directors of Goodyear India Limited today approved the Company's unaudited results for the first quarter of fiscal 2022.

- Total income of Rs 540 crore, up 131% versus the previous year
- Profit after tax of 27 Crs compared to a loss of 4 Crs last year
- Operating results impacted by COVID-19 related lockdowns in several major urban areas

Mr. Sandeep Mahajan, Chairman & Managing Director of Goodyear India Ltd said, "Challenging economic conditions persisted during the quarter, limiting the recovery in industry demand. Additionally, unexpected COVID-19 related lockdowns in several major urban areas further restricted demand, particularly in the consumer OE segment. Despite this difficult environment, our consumer businesses delivered solid growth. We also generated higher earnings in our farm business, reflecting strong execution and our leading market position.

As the economy reopens after the second wave of COVID-19, we are experiencing stronger demand in key end markets. We're focused on capitalizing on the improving momentum while continuing to prioritize the health and safety of our associates," added Mahajan.

Shares of Goodyear India Ltd., was last trading in BSE at Rs. 1094.25 as compared to the previous close of Rs. 1052.95. The total number of shares traded during the day was 9390 in over 1300 trades.

The stock hit an intraday high of Rs. 1101.8 and intraday low of 1050.6. The net turnover during the day was Rs. 10131807.

Source : Equity Bulls

Keywords