Goodyear India’s standalone profit for Q4 2019 doubled, rising to INR 336.1m ($4.1m) from INR 173.9m year-on-year. The increase was helped by lower raw material costs and increased demand for vehicles in India. The decrease in raw material costs, coupled with cost efficiencies, resulted in higher profitability in the OE segment, stated Sandeep Mahajan, chairman and managing director of Goodyear India. Cost of materials consumed fell 5.4%, while revenue rose 9.1% to INR 6.53bn for the quarter. Total expenses increased by 5.4% to INR 6.10bn.
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