Goodyear has officially announced its earnings for Q2 and H1 FY25. The company’s second quarter revenue was Rs 687 crore, lower by 1% from a year ago, while the second quarter profit before tax (PBT) was Rs 21 crore compared to Rs 51 crore in the prior year. Year-over-year profit was lower due to a reduction in volume, raw material inflation and EPR, says the company.
The company’s total income for the half year 2024-25 was Rs 1,382 crore, lower by 3% from the same period last year. The half year 2024-25, profit before tax was Rs 55 crore compared to Rs 103 crore a year ago, lower by 47%, driven primarily due to lower volume and raw material inflation.
Sandeep Mahajan, Chairman & Managing Director of Goodyear India said, “Our Company continues to enjoy significant market share with farm OEMs. The farm industry has seen a modest recovery after facing a downturn in the previous financial year. With an above-normal monsoon this year and a promising outlook for the Rabi season supported by hike in Minimum Support Prices, we expect continued growth in the rural economy over the coming quarters.”
Mahajan added, “In the Consumer Replacement business, we are strategically repositioning our brand in the premium segment with a focus on Luxury, SUV, and EV. This is being done through new product launches by leveraging our global product portfolio, together with calibrated pricing action in the market.”