New Delhi: Tyre maker CEAT Ltd plans to raise prices across categories by 4-6 per cent this quarter to offset higher raw material costs, its Managing Director and CEO Arnab Banerjee said on Wednesday.
Although the company has raised prices in the last two quarters, it could not fully offset inflation in major raw materials such as rubber and petroleum-based items. This was reflected in its second-quarter earnings, where profit plunged nearly 40 per cent, and margins fell into single digits.
