Goodyear India revenue increases 9% yoy to Rs772 crore in Q2FY23

15 Nov 2022 , 09:17 AM

Goodyear India Ltd has reported results for the second quarter of fiscal year 2023.

Q2 Results
The company’s second quarter revenue was Rs772 crore, up 9% from a year ago.

Second quarter profit before tax (PBT) was Rs36 crore compared to Rs53 crore in the prior year. Year-over-year profit was impacted by lower volumes and higher operating costs driven by inflation.

Half Year 2022-23 Results
GIL’s total income in H1 is Rs1,595 crore, a 28% increase compared to previous year, driven by higher volumes and better pricing.

H1 profit before tax was Rs87 crore compared to Rs89 crore in previous year, despite high inflationary environment

Cash Performance
As on Sep 30, 2022, the Company had Cash & bank balance of Rs237 crore compared to Rs390 crore as of Mar 31, 2022.

During the year, the Company had paid Dividend of Rs100 per equity share in August 2022 related to FY 2021-22, resulting in an outflow of Rs230 crore. The Company has also spent Rs54 Crore in Capex during H1 in various expansion and sustaining projects.

At around 9:17 AM, Goodyear India Ltd is currently trading at Rs1,034.85 per share down by Rs0 or 0% from its previous closing of Rs1,034.85 per share on the BSE.

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