The higher raw material prices in the domestic market continued to make a dent in the profit margins of the Indian tire majors in the quarter ending December 2024, but they cushioned the impact to an extent by hiking tire prices. The tire majors made guarded purchases of the raw material rubber from the domestic market.
Highlights
• Apollo posts better profits than leader MRF in Q3 FY 2025
• JK Tyres faces the worst fall of 75% in net profit
• Raw material prices look flattish in Q4 and demand robust