Tyre sector Q4 Result Review: Overall robust numbers, cautious outlook; what's the road ahead
Major tyre makers have reported strong Q4FY23 results. Apollo Tyres net profit quadrupled, CEAT's rose by 428%, MRF's grew by 86%, and JK Tyres more than doubled, while Balkrishna Industries fell by 30.7%.
Major tyre makers reported strong results for the March quarter (Q4FY23) owing to lower raw material costs and increased demand. Analysts believe that pricing increases have also helped the company's margins grow.
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