Rubber prices puncture Ceat's profits

Ceat Ltd slipped into losses in the March quarter, hit by a sharp and sustained increase in rubber prices during fiscal 2011 (FY11). The RPG Enterprises-owned tyre maker had a tough year, with each of the first three quarters of the current fiscal seeing a decline in profit margins. While analysts had expected its net profit to be a meagre Rs. 10 crore in the last quarter, the firm incurred a

http://bit.ly/kNS5D2