Indag Rubber sees sharp drop in revenues and profit for Q3FY17

Indag Rubber, the re-tread manufacturing company, has reported a drop of 27.6% in revenues to Rs. 45.03 crores for its December FY17 quarter compared to the same period last year. The company also saw a fall in profits. This follows a weak performance in the first half of the financial year for Indag, with a 33.9% drop in its topline. 

The excise duty exemption which the company had availed at its manufacturing location at Nalagarh, Himachal Pradesh has expired on Jan 15, 2016, which will continue to add to weakening growth.