Cooper Tire profit jumps on lower rubber costs
(Reuters) - Cooper Tire & Rubber Co's (CTB.N) quarterly profit soared on higher margins due to lower raw material costs.
Net income attributable to Cooper Tire rose to $74 million, or $1.17 per share, for the third quarter, from $17.3 million, or 27 cents per share, a year ago.
Revenue rose 4 percent to $1.1 billion.
Indian tire manufacturer Apollo Tyres (APLO.NS) was reportedly in talks to acquire a majority stake in Cooper Tire.
(Reporting by Mridhula Raghavan and Bijoy Koyitty in Bangalore; Editing by Sriraj Kalluvila)