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Tyre manufacturer Ceat, an RPG Group company, has posted 21.58 per cent fall in consolidated net profit at Rs 51.22 crore, compared with Rs 65.32 crore recorded during the same period a year ago.
The company’s revenue rose 10 per cent to Rs 1,453.10 crore, compared with Rs 1,316.91 crore posted during the same period a year ago.
On a standalone basis, the India operations reported revenues of Rs 1,401 crore with EBITDA margin of 9.1 per cent. The company’s net profit stood at Rs 47 crore for the quarter.
“The first quarter has been positive for Ceat with a strong volume growth of 11 per cent. We are beginning to see a positive change in passenger and commercial segments, although it is too early to count on gains,” Anant Goenka, Managing Director at Ceat said.
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