Tyremaker Goodyear India posts 40% jump in Q2 profit on subdued input costs

BENGALURU, Oct 27 (Reuters) - Tyre manufacturer Goodyear India (GDYR.NS) reported a 40% rise in second-quarter profit on Friday as its raw material spends declined.

Standalone profit for the Indian unit of U.S.-based Goodyear Tire and Rubber Co (GT.O) rose to 379.4 million rupees ($4.6 million) in the three months to Sept. 30 from 271 million rupees a year earlier.

Rubber prices have contracted sequentially for the second quarter in a row as production and consumption in China, which consumes about 40% of global natural rubber, has been sluggish, according to analysts.

Goodyears total expenses fell more than 12%, led by nearly a 30% decline in input costs, while revenue dropped about 10% to 6.90 billion rupees.

Poor monsoons have made commercial vehicles such as tractors less affordable for Indias rural population, hurting automakers and auto-ancillary companies.

Goodyear has reported a profit climb in each of the last five quarters.

Rival CEAT (CEAT.NS) earlier this month reported soaring second-quarter profit, while other peers MRF (MRF.NS), JK Tyre and Industries (JKIN.NS) and Apollo Tyres (APLO.NS) will report next month.

($1 = 83.2070 Indian rupees)